UBS launches Future of Earth fund
ExxonMobil faces mounting investor pressure on climate action
US oil major ExxonMobil is facing growing pressure from major investors over its response to climate change ahead of its annual general meeting later this month, including from Legal & General Investment Management (LGIM) and the California Public Employees' Retirement System (CalPERS).
Exxon adds Ubben to board ahead of AGM
ExxonMobil has appointed Jeff Ubben to its board, in an apparent concession to demands made by the activist investor to reposition its business model to reduce the impact of its business on climate change.
Exxon urged to implement net zero targets, board reshuffle
Hedge fund veteran plotting $8bn impact fundraise
US hedge fund manager Jeffrey Ubben is planning to raise up to $8 billion for a new impact fund, according to Reuters.
S&P warns of oil & gas downgrades amid 'transition risks'
Ratings agency S&P has warned 13 oil and gas companies that they face a credit downgrade within weeks, citing risks associated with the transition to a low-carbon economy and competition from renewables.