A Major New Index Fund Should Unnerve Climate-Skeptical CEOs
The hedge fund that staged a revolt at Exxon last month is now recruiting an army of mom-and-pop investors for future battles.
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Last month, a tiny hedge fund called Engine No. 1 staged a coup of sorts at ExxonMobil—a shareholders’ revolt that unseated three members of the oil company’s board of directors and replaced them with more climate-concerned candidates. The putsch was the first centered on climate change at an American oil company.
Now the financial group is ready to recruit ordinary investors—people with 401(k)s, , the macroprudentially curious—into its army. Tomorrow it is launching an exchange-traded
