Exxon Chief Goes on the Offensive as Wall Street Sours on ESG
ExxonMobil CEO Darren Woods is pushing back against the growing chorus of Wall Street investors who are souring on ESG. In a recent speech, Woods argued that ESG is a “distraction” from the real challenge of climate change, which he says is ultimately a problem that can be solved only through technological innovation. Woods’ comments come as ExxonMobil faces increasing pressure from shareholders and investors to improve its environmental performance. However, Woods has maintained that the company is committed to reducing its emissions and investing in renewable energy but insists that this must be done in a way that does not jeopardize the company’s financial performance.