ExxonMobil is one of the most consequential and profitable companies in U.S. history. For decades, ExxonMobil's insular corporate culture helped keep the company somewhat shielded from outside influence. David Faber explores whether ExxonMobil is serious about taking on global warming and how its actions match up with its words.

In 2021, ExxonMobil chairman and CEO Darren Woods faced a rebellion from his board. Hedge fund D.E. Shaw got two new directors installed on the 12-person board. Then, a little known activist firm called Engine No. 1 waged a campaign for shareholders to vote in four new members.

ExxonMobil board member Jeff Ubben: "You just don't get the mandate" Ubben is one of the board members installed after pressure from D.E. Shaw. The new members have helped increase internal pressure on ExxonMobil to accelerate the greening of its operations.

Oil and gas companies are under pressure to pump more to increase supply and cool down prices. "This is a time — not the time to sit on record profits," said President Biden on March 31, 2022. Exxon spending just $15 billion on emission reduction investments, despite the company having earned $23 billion in 2021.
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