Exxon Mobil Loses Funders Due to Lack of ESG Transparency

What: Exxon has been removed from an ESG fund managed by Europe’s 2nd largest asset manager, the Legal & General Investment Management.

Why: Legal & General say Exxon did not meet minimum requirements, including emissions, reporting, and target information.  

Key Takeaways: A group of 88 investors with nearly $10 Trillion in assets have sent standardized environmental disclosure forms to the world’s largest companies. Companies who resist may lose investors and be passed over by new investors in favor of companies with greater ESG transparency.

WSJ | The Potentially High Cost of Not Disclosing ESG Data