European Asset Manager Sells All Its Exxon Shares Over Climate Goals ...Middle East

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European Asset Manager Sells All Its Exxon Shares Over Climate Goals
source : OILPRICE ( Middle East ) () 38
A $570-billion German asset manager has sold all its shares in ExxonMobil as it has found the U.S. supermajor doesn’t have strong enough climate targets, a senior executive told the Financial Times. Union Investment, one of Germany’s top investors with nearly $570 billion (500 billion euros) in assets under management as of September 2024, has divested its stake in Exxon, as well as in another U.S. oil and gas producer, EOG Resources, due to what the investor says are insufficient targets to reduce emissions. The decision came as Union…

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