Climate-conscious investors fell short yesterday in their efforts to force JPMorgan Chase & Co. to do more about global warming. Chief among them was a bid to oust Lee Raymond a former head of Exxon Mobil Corp. from his position on JPMorgan's board. During Raymond's tenure as Exxon's chairman and CEO, the company spent an estimated $16 million to fund a campaign to question the science of climate change (Greenwire, Feb. 9, 2007).
Shareholders at JPMorgan, however, saw no problem with his leadership. Raymond and all of the nominated board members were reelected and none of them received less than 84% support, according to preliminary voting results.
Notably, Raymond received a hearty endorsement from JPMorgan CEO Jamie Dimon. He said Raymond's "leadership, counsel and wisdom" have profoundly contributed to the company's success. "He is a leader among leaders. He's always encouraged and considered a range of views and opinions on a multitude of issues ... including climate change," Dimon said.
Two separate climate-related resolutions regarding JPMorgan's ties to fossil energy also failed to garner enough support.
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https://www.eenews.net/climatewire/2020/05/20/stories/1063181891