IRVING (dpa-AFX) - Exxon Mobil Corp. (XOM) has initiated a legal action
against investor groups Arjuna Capital and Follow This.

The lawsuit mainly aims to address perceived shortcomings in the enforcement of
shareholder proposal resubmission rules by the SEC, that made it harder for
companies to turn away some resolutions.

The contested proposal called for Exxon to reduce climate pollution both from
its operations and the emissions generated by customers using its products. This
includes Scope 3 emissions, which constitute a significant portion of
ExxonMobil's carbon footprint.

Despite previous similar proposals from the investor groups receiving limited
support, Exxon is resolute in its stance to safeguard investors from what it
perceives as repetitive and intrusive proposals.

Following the legal action taken by ExxonMobil in Texas federal court, Arjuna
and Follow This retracted the proposal and committed to not resubmitting it.
However, ExxonMobil remains steadfast in its pursuit.

Mark van Baal of Follow This expressed concern that ExxonMobil's actions are
stifling shareholder participation in crucial climate-related decisions.

ExxonMobil maintains that while shareholders have the right to propose
initiatives, these proposals should align with creating long-term shareholder
value. The company asserts that proposals from Arjuna and Follow This are driven
by specific agendas rather than the broader interests of shareholders.



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