A group of pension funds and institutional investors accused Exxon Mobil Corp. of failing to act on global warming concerns and demanded a meeting with the company's board over the issue. The group, comprised of pension fund trustees from eight states and New York City, as well as 8 other institutional investors, said they were concerned Exxon's handling of the global warming issue left it lagging behind its oil major peers such as BP and Royal Dutch Shell. In response, Exxon said it has an ongoing dialogue with the group members and is setting up a meeting (comprised of Exxon-only people) in July to discuss these issues. In the meantime, Exxon continues to fund climate skeptics. According to a recent Greenpeace report, Exxon Mobil Corp. gave over $2 million in 2006 to global warming skeptics. The skeptics listed include: the American Enterprise Institute, the Cato Institute, the Heritage Foundation, and the National Black Chamber of Commerce. Many of them concern themselves with a wide range of issues. Exxon has argued that its position on global warming has been widely misunderstood and has taken part in industry talks on greenhouse gas emission regulations. If there is a bright side, Exxon's spending was well below the nearly $3.6 million it spent on "denial groups" in 2005 and just over half the $3.9 million it shelled out in 2004. by
Erin Swanson
ESwanson@enviance.com | 
