Matt Levine, Columnist

Exxon Lost a Climate Proxy Fight

Also UniCredit and WeWork.

May 27, 2021 at 12:55 PM EDT

Corrected

May 27, 2021 at 9:20 PM EDT

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off tomorrow, back on Tuesday.

Let’s say you are the chief executive officer of Exxon Mobil Corp., and your second-biggest shareholder, BlackRock Inc., comes in for a meeting. “We would like you to drill less oil, spend more time on renewable energy and commit to being carbon-neutral by 2050,” the BlackRock team says. “Absolutely not, get out of my office,” you say. What can BlackRock do about it?

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