Steve Milloy wins against Exxon with SEC

By Andy May

h/t Willie Soon

Steve Milloy is the publisher of and trained as a lawyer and biostatistician. He was “lauded” as one of the top ten “climate deniers” by George Monbiot at the Guardian. Milloy has filed a shareholder proposal with Exxon-Mobil insisting that they account for their “greenwashing” activities that are not required by law. He defines greenwashing as expenditures that are supposed to be environment-related but are actually undertaken to improve the company’s public image. These insincere green activities waste shareholder money, deceive shareholders and the public.

Exxon Mobil submitted a request to the SEC to exclude Milloy’s proposal from the shareholder meeting, scheduled for May 27, 2020. The SEC ruled in Milloy’s favor as you can see in Figure 1.

Figure 1. SEC summary of their decision, they turned down Exxon Mobil’s request to exclude Milloy’s proposal. Source: SEC.

Exxon-Mobil management has long been divided on the risks of climate change, as I have written here. But, the risks of human-caused climate change have been investigated by thousands of researchers, worldwide, since 1979 and they have uncovered nothing significant. The only solid impacts of human-caused global warming or climate change uncovered are positive, as seen here.

Greenwashing by Exxon-Mobil, sends the wrong signal to the public and the environmentalists. They use it as a club to beat the fossil fuel industry, saying “See climate denier, even the largest private fossil-fuel producer agrees with us!” As a long-time Exxon-Mobil shareholder and a past Exxon employee, I will vote with Milloy and against Exxon-Mobil in May. Exxon-Mobil should stand up for itself and what is right.

Published by Andy May

Petrophysicist, details available here:

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