Exxon held their annual shareholders meeting in Dallas — and Texans were there to greet the shareholders with a clear message: divest from Exxon’s pollution, deception, and greed.
Exxon has polluted Texans’ air, water, and communities for years. Texans are feeling the impacts of climate change more acutely than ever — drought, and most recently severe flooding. Let’s show that we’re through with Exxon’s pollution, deception, and greed.
Shareholders have all the evidence they need — Exxon has lied to them about the financial risks of climate change since 1977. Exxon robbed humanity of half a century’s worth of time to fight climate change, and their core business model relies on wrecking our communities and the climate.
Join us on May 25th to demand that shareholders like our state pension funds stop owning Exxon’s deception and destruction — we’re calling on them to divest.
HERE ARE THE DETAILS:
Big news broke last fall: Exxon knew about climate change in the 1970’s. Since then, new info has come to light showing they knew even earlier — half a century ago. They deceived the public, misled their shareholders, and robbed humanity of a generation’s worth of time to reverse climate change. Just as Big Tobacco lied about the risks of addiction and cancer, Exxon orchestrated a campaign of doubt and deception, making hundreds of billions at the cost of people’s lives — now it’s time for them to face the consequences.
#ExxonKnew is a call to hold them accountable and shine a light on this case of blatant fraud. A wide range of organizations and individuals have joined the effort calling on the U.S. Department of Justice and State Attorneys General to investigate Exxon, and others are urging their institutions to divest from Exxon. Click here for more.
Our public institutions, like the state pension funds of Texas, New York, Vermont, and California, currently hold shares in Exxon. Many of them — plus the Securities & Exchange Commission (SEC) — have pushed resolutions urging Exxon to disclose the financial risks of climate change, as well as other climate resolutions. But so far, Exxon has stymied every effort on the part of shareholders to affect change within the company. Click here to Exxon’s 25 years of “no.”
Even if Exxon did agree to report on climate risk, shareholders won’t be able to change a business plan that is fundamentally incompatible with staying under the international target to stay under 2 degrees of warming.
Exxon’s core business model relies on wrecking our communities and the climate — and Exxon will not change it’s core business model. We want shareholders to see that engaging with the fossil fuel industry will not work: for the sake of people, planet, and pensioners, shareholders must divest.
To avoid catastrophic climate change, we need to keep 80 percent of fossil fuels in the ground — and that means disrupting the fossil fuel industry’s core business model. Shareholder engagement cannot change the fossil fuel industry’s core business model, which relies on wrecking our communities and the climate. Here’s why we think shareholder engagement is not a worthwhile tactic:
There will be a rally outside the shareholder meeting, but we will not be asking participants to take part in civil disobedience.
On May 25th, Exxon’s shareholders are gathering for the annual general meeting (AGM) where Exxon and its shareholders will discuss the company’s performance and strategy. This is our chance to tell shareholders loud and clear: #ExxonKnew. It’s time to divest from climate deception.
Fossil fuel companies have had a rough couple of years. In fact, coal, oil and gas are the worst performing sectors over the last five years. Major pension funds have lost millions, even billions, on their fossil fuel holdings in the last year. Even if oil prices rebound in the near term, bringing oil stocks up with them, a decision to divest should rest on the claim that fossil fuel companies will prove to be bad investments over the long-term; and pension funds are long-term investors. Divestment from fossil fuels is not only the right thing to do, it’s proving to be the smart thing to do too.
If your organization would like to support this action, click here.
System Change Not Climate Change – Dallas Chapter
Dallas Sierra Club
Texas Campaign For the Environment
North Texas Light Brigade
CODEPINK Greater Dallas
Veterans For Peace Chapter 106, North Texas
Dallas MoveOn Council
Oil Change International
Climate Hawks Vote
Dallas Peace and Justice Center
Texas Drought Project
Pax Christi Dallas
Public Citizen Texas
Amplify the voices of the people participating in this action, and tell people on your own channels about what’s happening. Show you stand in solidarity — we are in this together.
Can’t make it on May 25th? You can still help by sharing this page with your friends, or by signing the petition asking Texas’s Attorney General to investigate Exxon — click here to add your name.