Last year proved to be a watershed moment for oil and gas companies in the global transition to clean energy, with Big Oil facing a series of boardroom and courtroom battles in the hands of hardline climate activists. The world’s largest publicly-traded oil company, Exxon Mobil (NYSE: XOM), lost three board seats to Engine No. 1, an activist hedge, in a stunning proxy campaign. Engine No. 1 demanded that Exxon needs to cut fossil fuel production for the company to position itself for long-term success. "What we're saying is, plan for a world…
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