Exxon Mobil criticized by Norway oil boss, FT reports

Nicolai Tangen, chief executive of Norway’s $1.5T oil fund, has criticized ExxonMobil’s decision to sue two shareholders, Follow This and Arjuna Capital, who filed a climate proposal calling on the company to get more ambitious on its emission targets, Richard Milne and Myles McCormick of The Financial Times says, citing comments made by Tangen. “It’s a worrisome development. We think it’s very aggressive and we are concerned about the implications for shareholders rights,” Tangen said. Tangen’s oil fund is one of Exxon’s top-10 shareholders, holding a 1.4% stake worth $5.4B at the end of 2023.