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Why was the 2017 climate risk disclosure vote at ExxonMobil considered a turning point in shareholder activism?
It passed with majority support despite board opposition, with backing from BlackRock and Vanguard
It was the first time ExxonMobil offered to co-author a shareholder proposal
The company voluntarily implemented the proposal before the vote
It led directly to the replacement of ExxonMobil’s entire board of directors
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