Skip to content

Designing Ireland

classic ideas, treasured moments

Menu
  • About Us
  • Contact
Menu

Chris James´ San Francisco Based Engine No.1 Fund Pushing Exxon Towards Sustainability

Posted on May 11, 2021 by designingireland

A new proxy fight is brewing for Exxon and that has Chris James to thank for, who recently launched the investment firm Engine No. 1 in San Francisco. This proxy fight is not like many others. Engine No. 1 wants Exxon Mobil to focus more on the clean, renewable forms of energy, rather than digging up more fossil fuel. The San Francisco based firm led by Chris James is not alone in this fight. California State Teachers’ Retirement System, known as CALSTRS is also supporting the initiative. 

Chris James

More investors are expected to join the fight, especially considering a lot of investors are unhappy with the performance of Exxon shares. Entrepreneur Chris James’ Engine No. 1 and CALSTRS may not be the largest investors in Exxon with their 40 and 300 million dollars investments in Exxon respectively, their actions, Chris James pointed out, may be the harbinger for other mega scale investors like Blackrock, Vanguard and State Street, which hold a combined 20% of the entire Exxon shares. About 7 years ago, Exxon was the most valuable company in the US. 

Today, after the COVID-19 worldwide pandemic decimated the demand for oil, company valuation dropped down to $176 billion with shares plummeting 40% between the beginning and the end of 2020, which further frustrated the investors, Chris James has explained. In a letter to Exxon Mobil Corporation board of directors, dated December 7th 2020, Engine No. 1 LLC, voiced concerns about the direction Exxon is going and suggested investments to be directed towards more sustainable value creation for its shareholders as well as employees, suppliers, customers and the communities. Activists like Chris James investing are nothing new but considering the paradigm shift in energy production and consumption as well as the negative environmental impact of fossil fuels, the timing of this call to action is impeccable.

Recent Posts

  • Alejandro Betancourt: invested in several successful businesses, including Hawkers Sunglasses
  • Yuri Milner: We Must Invest In Our Ideas Now
  • 5 Things You Need to Know About Robert Kotick, CEO of Activision Blizzard
  • Andrew Lazarus Real Estate Development of Iconic Beach Hotel
  •  Marwan Kheireddine is Inspiring Lebanon's Youth

Recent Comments

    Archives

    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021

    Categories

    • Alejandro Betancourt Lopez
    • Anesthesiology
    • Antigua & Barbuda
    • Baseball
    • Biotech
    • Book Publishers
    • Business
    • Business Leader
    • Cardiologist
    • CEO
    • CFO
    • ClearObject
    • Cloud Technology
    • Community Leader
    • Companies
    • Company
    • Dechert
    • Digital Solutions
    • Digital Supply Chain
    • Direct Selling
    • Director
    • E-Commerce
    • Education
    • Entrepreneur
    • Event place
    • Finance
    • Financial Services
    • Fintech
    • Forex
    • Founder
    • Gaming
    • Global Scoring System
    • Haroldo Jacobovicz
    • Health
    • Hughes Marino
    • Illegal Immigration
    • Immigration
    • Insurance
    • Interactive Online Education
    • Investing
    • Investor
    • Legal Immigration
    • Loans
    • Macrina Kgil
    • Marketing
    • Marshal Lynch
    • Memorial Diamond
    • Neil Gerrard
    • ONLINE DATING
    • Online Education Services
    • Peter Briger
    • Philanthropist
    • Physician
    • Politics
    • Producer
    • Publishing Company
    • Randal Nardone
    • real estate
    • School
    • Self – Publishing
    • Services
    • SextPanther
    • Sports
    • Sports and Entertainment
    • Surgeon
    • Surgery
    • Sustainability
    • Technology
    • Tenant
    • Theme park
    • Top 100 Innovative Companies
    • Traditional Decore
    • Wealth management
    • Wellness
    • Yuri Milner
    © 2022 Designing Ireland | Powered by Superbs Personal Blog theme

    Terms and Conditions - Privacy Policy