Chevron Corp is preparing to defend itself against a potential challenge from activist investors and met with representatives of the pro-environment fund at the center of similar events at Exxon earlier this year, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Source: Reuters
Chevron shared some of its plans to cut carbon emissions during talks with the Engine No. 1 fund, the report said. The talks were described as cordial and the activist fund gave no indication that it would pursue a campaign against the company, the report added.
Engine No. 1 is weighing the option of launching a second campaign against a major oil company, the report said, after the fund managed to get three nominees elected to Exxon’s board in June.
Engine No. 1 hasn’t made any decision about another campaign, the report added.
The fund and Chevron did not immediately respond to a Reuters request for comment.
