1) What, if any, changes, do you think might occur in Exxon’s position on climate change with these

new board members?

Several variables, such as the priorities of the board members, the company's strategic goals, and
the larger background of the energy sector and international efforts to address climate change, will
determine whether Exxon's position on climate change changes with the new board members from
Engine No. 1. The following modifications are possible:
1. Enhanced attention to ESG metrics:
The newly appointed board members are probably going to advocate for a greater focus on
environmental, social, and governance (ESG) indicators because they are more environmentally
aware. They might support setting more specific and challenging goals for cutting greenhouse gas
emissions, improving energy efficiency, and integrating sustainable practices throughout Exxon's
business operations.
2. Investment in sustainable energy:
The board members may advocate for funding towards low-carbon and renewable energy sources,
among other cleaner energy sources. This can entail adding renewable energy projects and
technology to Exxon's portfolio to diversify it.
3. Strategic transition to low-carbon energy:
The board members of Engine No. 1 might support a transition to lower-carbon energy in the future.
Reducing the company's dependency on conventional fossil fuels and investigating prospects in fields
such as electric cars, hydrogen, and carbon capture and storage are some examples of how to do
this.
4. Alignment with international climate goals:
Exxon may be encouraged by the new board members to match its commercial plans with global
climate goals like the Paris Agreement. They might advise establishing goals to achieve net-zero
emissions by a particular date and endorsing laws and innovations that make it easier to reduce
emissions.
5. Engagement with stakeholders:
The board members may give priority to interacting with a range of stakeholders, such as
governmental bodies, environmental groups, and local people impacted by Exxon's activities. This
could result in more open dialogue and teamwork on social and environmental challenges.

2) Do you think this represents a change in the oil industry overall?

Yes, there has been a noticeable change in the oil business because of Engine No. 1's achievement in
getting board seats at ExxonMobil and the larger movement toward tackling sustainability and
climate change. The success of Engine No. 1 is only one aspect of a larger trend in the oil industry:
the increasing focus on sustainability. The public, investors, and shareholders are putting more and
more pressure on oil firms to address climate change, cut emissions, and implement more
sustainable practices. This shift in attitude reflects changing social norms and the realization that the
effects of oil and gas extraction on the environment must be taken into consideration.

The success of Engine No. 1 at ExxonMobil is a prime example of how shareholder activism is
becoming more and more influential in the oil sector. These days, institutional investors and
shareholders are using their voting power to pressure companies to alter their business plans. They
are demanding a change in focus toward sustainability and holding businesses responsible for their
 environmental impact. The need for diversity in board composition is demonstrated by ExxonMobil's
nomination of more environmentally concerned board members. Diversity today encompasses
knowledge and viewpoints in addition to gender and race, as it once did. The inclusion of board
members with expertise in sustainability and climate change concerns denotes a shift in corporate
governance and an understanding of the value of a varied and knowledgeable board.

The pressure on the oil industry to support international climate initiatives is growing. Aims for
cutting carbon emissions have been set high by agreements like the Paris Agreement. Oil firms need
to modify their strategy to support these global aims to stay relevant and behave as responsible
corporate citizens. The world's energy environment is evolving. The use of low-carbon and
renewable energy sources is expanding. ExxonMobil is among the oil firms that are seeing the need
to change with the times. Their long-term strategy now must include investigating cleaner energy
solutions and diversifying their energy portfolios.

3) Do you think there will be an increase in impact investing and/or shareholder activism?
Yes, there is a good chance that impact investment and shareholder activism will rise in the coming
years. Concerns about the environment and society, such as corporate responsibility, social
inequality, and climate change, are becoming more widely known. People and organizations are
likely to look for investment possibilities that fit with their goals and values as they become more
aware of these difficulties. Governments everywhere are enacting laws and guidelines that either
mandate or encourage businesses to take environmental, social, and governance (ESG)
considerations into account when making decisions and filing reports. As a result, there is a greater
opportunity for impact investing and shareholder activism to hold businesses responsible for their
deeds.

The media pays close attention to high-profile cases, such as the success of Engine No. 1 at
ExxonMobil, and other successful shareholder activism initiatives. More people and organizations
are inspired to do similar actions by these situations. An increasing number of investors are looking
for investment possibilities that benefit society and the environment in addition to providing
financial gains. They are prepared to advocate for corporate change using their financial power.
Companies may become more sensitive to shareholder concerns and open to impact investing
proposals as they grow to understand the significance of ESG aspects in their business strategies.

The financial advantages of investing with an ESG focus are currently the subject of a plethora of
data and research. This data bolsters the claim that ethical and sustainable investing strategies can
provide competitive profits, thereby inspiring activists, and investors even more. The need for
coordinated efforts to address complex global crises including resource depletion, social inequality,
and climate change is growing. Activism by shareholders and impact investing are viewed as
instruments to encourage businesses and sectors to pursue sustainable solutions.

Sustainability and ESG are becoming more and more important components of investment strategies
for institutional investors, such as pension funds and large asset managers. Their involvement and
support can make a big difference in bringing about change. YoungeBr generations are increasingly
likely to prioritize impact investment and ESG when they inherit or amass wealth, including
millennials and Generation Z. These practices will continue to grow because of this generational
transition.