Engine No. 1 is an investment company and hedge fund that advocates for environmental sustainability and reduced carbon emissions. [1] The firm successfully elected three of its nominees to petroleum giant Exxon Mobil’s board of directors. [2]
The move received support from BlackRock, Inc., which owns about 6.7 percent of Exxon’ stock and announced that it would increase left-of-center Environmental, Social & Corporate Governance (ESG) investments, as well as pension funds such as the California Teachers’ Retirement System (CalSTRS). [3][4]