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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
Reuters
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It s Friday before a long weekend. What joy.
Last month I had the pleasure of interviewing Bill Gates about his climate and energy work, and the role of tech in slowing global warming. Stay tuned for our coverage over the weekend.
In the meantime, let s get into what happened this week some Big Oil updates, lots of startup news, and so many electric-vehicle SPACs.
by Jim Verdonik and Benji Jones February 12, 2021 .
Editor’s note: Jim Verdonik and Benji Jones, cofounders of Innovate Capital Law discuss Special Purpose Acquisition Companies (SPACs) – the hottest trend in capital raising. But their focus is on the business implications of SPACs, not the legal.
Article I published Thursday describes the 600% growth of SPACs in 2020. Article 2 describes how to determine whether a SPAC deal is right for your business. Article 3 describes how to choose the right SPAC for your business. Article 4 describes the steps, time schedule and cost for doing a SPAC deal.
JIM: In our last discussion, we discussed the explosive 600% growth of SPACS during 2020 that caused SPAC dry powder to equal or exceed the entire U. S VC industry.