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Kempen Capital Management, a European investor with $99 billion in assets, has sold its Exxon stake over climate concerns.
Exxon has come under increasing investor scrutiny for lagging behind rivals in tackling the energy transition.
Other investors are selling out, Dimitri Willems, senior portfolio manager, told Insider.
Kempen Capital Management, an Amsterdam-based asset manager with over €79.1 billion ($99 billion) in assets under management,
offloaded its stake in Exxon Mobil in 2020 over concerns related to shareholder engagement, the firm told Insider.
Kempen, among the largest asset managers in the Netherlands, divested a $22.5 million stake in December because Exxon failed to engage with shareholders that were pushing the oil and gas producer to set more rigoro
ANCHORAGE, Alaska (AP) â The Iditarod, the worldâs most famous sled dog race, has lost another major sponsor as it prepares for a scaled back version of this yearâs race because of the pandemic, officials said Thursday.
ExxonMobil confirmed to The Associated Press that the oil giant will drop its sponsorship of the Iditarod Trail Sled Dog Race. The move came after ExxonMobil, which has been a race sponsor since 1978, received pressure from one of its shareholders and the raceâs biggest critic, People for the Ethical Treatment of Animals.
âAfter careful review of sponsorships in light of current economic conditions, weâve decided to conclude our sponsorship of the Iditarod following the 2021 race,â ExxonMobil spokesperson Ashley Alemayehu said in an email to the AP.
The world’s most famous sled-dog race, celebrated by Alaskans for half a century but long condemned by animal-rights activists as inhumane, is losing one of its biggest corporate sponsors.
The world’s most famous sled-dog race, celebrated by Alaskans for half a century but long condemned by animal-rights activists as inhumane, is losing one of its biggest corporate sponsors.