The National Legal and Policy Center (NLPC) has submitted a proxy memorandum urging Exxon Mobil Corporation shareholders to vote for Item 4 on the 2024 Proxy Ballot, which calls for the reassessment of executive pay incentives related to greenhouse gas (GHG) emission reductions. The NLPC argues that the current incentives may lead to reduced oil and gas production or misguided investments in carbon capture and storage technology, which could distort market supply and demand and destroy shareholder resources. The NLPC challenges the prevailing narrative on climate change, suggesting that the discourse is overly simplistic and politicized, and that the impact of human actions on climate change is more complex than commonly portrayed. They advocate for a more nuanced understanding of climate change...Show More

The National Legal and Policy Center (NLPC) has submitted a proxy memorandum urging Exxon Mobil Corporation shareholders to vote for Item 4 on the 2024 Proxy Ballot, which calls for the reassessment of executive pay incentives related to greenhouse gas (GHG) emission reductions. The NLPC argues that the current incentives may lead to reduced oil and gas production or misguided investments in carbon capture and storage technology, which could distort market supply and demand and destroy shareholder resources. The NLPC challenges the prevailing narrative on climate change, suggesting that the discourse is overly simplistic and politicized, and that the impact of human actions on climate change is more complex than commonly portrayed. They advocate for a more nuanced understanding of climate change that considers both natural and human factors. The NLPC believes that Exxon Mobil's focus on emission reductions in executive compensation overlooks the company's core mission of hydrocarbon exploration and production, potentially harming the company's financial performance and competitive positioning. They suggest that the company should prioritize economic sustainability and shareholder returns over environmental goals that are not clearly validated by science.