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Jun 19, 2021Liked by Neel Mehta, Dimitri Glazkov

I think another interesting, and perhaps interrelated, trend paired with the growth in climate risk consulting business is the growth of ESG activism to activist hedge funds like Engine No 1’s takedown of Exxon and the surge in demand for ESG savvy professionals. Engine No 1 took a very small stake in Exxon at 0.02%, but was able to convince portfolio managers at larger shareholders (through existing relationships) to push for Exxon to adopt a climate strategy and appoint new board members. It is kind of an unexpected complex system effect from minority rule paired with trends in societal attitudes, tbd if this a repeatable strategy that spreads. Context: https://on.ft.com/3fQmAJP

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