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Starboard’s Smith Says ESG Activists Need to Deliver for Credibility

Start Magazine

(Bloomberg) -- Activist investor Jeff Smith said Exxon Mobil Corp.’s revamped board will have to deliver the changes a tiny investor promised during its proxy fight in order for that campaign to be a watershed moment for environmental, social and governance investing. Newly formed Engine No. 1 won an upset victory over Exxon this month by winning three seats on the board of the oil and gas giant despite owning just 0.02% of its common stock...

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