California's Treasurer Ma urges votes against two Exxon directors

California Treasurer Fiona Ma urges votes against two Exxon directors. Ma urges both to cast votes against the energy company's unusual lawsuit against small investors. Exxon filed the suit in January seeking to block a shareholder climate resolution. The filers withdrew the resolution, but Exxon continued the suit seeking legal costs and other relief.

Calpers weighs voting against Exxon CEO's re-election as board chair. Investors led by U.S. activist investment firm Arjuna Capital and shareholder activist group Follow This earlier this year asked Exxon and other oil majors to adopt tighter climate targets. In January, Exxon filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote.