Engine No. 1’s big win over Exxon shows activist hedge funds joining fight against climate change
Engine No. 1 wants Exxon to focus less on fossil fuels. AP Photo/Matthew Brown By Mark DesJardine, Penn State and Tima Bansal, Western University One of the most expensive Wall Street shareholder battles on record could signal a big shift in how hedge funds and other investors view sustainability. Exxon Mobil Corp. has been fending off a so-called proxy fight from a hedge fund known as Engine No. 1, which blames the energy giant’s poor performance in recent years on…