Shareholder Activism or Divestment The Massachusetts Pension Fund Chooses Activism – Environment

The Yesterday’s Boston Globe report that the
Massachusetts Pension Reserves Investment Management Board approved
investment guidelines that would have the Board vote against
directors of companies in which the Board invests where the company
does not have a plan to reach net zero carbon emissions by
2050. 

As the Globe notes, there is something of a debate among climate
activists whether it is better to support divestment or the kind of
activism represented by the Board’s action yesterday.  In
that context, the Globe noted Engine No. 1’s success last year
in challenging Exxon directors.

I thinkThe answer lies in the Exxon vote.  Climate is the answer.
Investors are pressured to divest by activists, who are successful
Going to be left running companies like Exxon?

I say stay in the game.  Climate concerns can win in
Corporate board rooms: Who knows what could happen?

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