Climate activists have scored yet another victory against Big Oil after Norway’s giant sovereign wealth fund announced it will support proposals by ExxonMobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) shareholders at their annual general meetings (AGMs) on Wednesday to introduce emissions targets.
With $1.4 trillion in assets, Norway's wealth fund is the largest in the world, and its voice on matters like these carries plenty of weight. The fund is the sixth-largest investor in Exxon with a nearly 1.2% stake. The move comes barely a week…Norway's Wealth Fund Sides With Activists Against Exxon, Chevron
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