Author: Joe Carroll

Exxon confronted shareholder resolutions from Catholic nuns and the California Public Employees’ Retirement System (CalPERS) over climate disclosure and long-term strategy. The religious orders argued that the company’s global warming plans failed to account for environmental and moral risk, while CalPERS — one of the nation’s largest public pension funds — framed climate exposure as a material financial concern. The pressure signaled a shift: climate risk had moved from protest lines into boardrooms and proxy votes.