Ever-anxious to put another corporate head on a pike, religious proxy shareholders are boasting that their efforts landed them the big daddy of them all – ExxonMobil. Religious investor group As You Sow pats itself on the back that the energy company bowed to its pressure to reveal hydraulic fracturing (fracking) risks. According to the Wall Street Journal’s Daniel Gilbert:
Exxon Mobil Corp. agreed to publicly disclose more details on the risks of hydraulic fracturing of oil and gas wells, reversing a long-held resistance after negotiations with environmental groups and investors.
The Texas oil company’s decision is the latest evidence of a shift by Exxon’s top executives to address growing environmental worries about fracking, a contentious technique in some North American communities. (more…)