ESG investment firm Arjuna Capital has recently sent a letter to ExxonMobil and submitted it to the Texas court, stating that it "unconditionally and irrevocably" promises not to submit any proposals related to emissions or climate change to ExxonMobil shareholders, after withdrawing its shareholder proposal to accelerate its mid-term emissions reduction. Arjuna stated that it is expected that Exxon will withdraw the lawsuit. According to Bloomberg, ExxonMobil spokesperson Emily Mille said in an email statement that ExxonMobil is reviewing Arjuna's letter but has not promised to withdraw or continue the lawsuit, and stated that the purpose of filing the lawsuit is to clarify the agency rules of the U.S. Securities and Exchange Commission and prevent the abuse of shareholder procedures.
On January 21st of this year, US oil giant ExxonMobil sued Arjuna and two other ESG advocacy investment firms to prevent their proposed emissions cuts from entering the voting process at the shareholder meeting. On February 2nd, both institutions withdrew their shareholder proposals calling for ExxonMobil to accelerate mid-term emissions reductions.