Engine No. 1’s CEO Discusses What Will Follow the Exxon Victory

Engine No. 1’s CEO Discusses What Will Follow the Exxon Victory

(Bloomberg Markets) -- Engine No. 1 sent shock waves across corporate America in May when the fledgling investment firm won a boardroom battle with Exxon Mobil Corp., securing three seats on the oil and gas giant’s board after purchasing only about $40 million of its stock. The shareholder vote was heralded as a major victory for so-called ESG investing, which focuses on improving corporate environmental, social, and governance metrics. Afterward, Engine No. 1 raised more money from investors, launched an exchange-traded fund with the ticker VOTE, and filed for a second ETF focused on climate issues.

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