Exxon Mobil Corporation announced that it has filed a lawsuit against Arjuna Capital and Follow This in a bid to stop them from filing climate proposals during the Company's shareholder meeting. In an emailed statement, the Company said that ?the breakdown of the shareholder proposal process, one that allows proponents to advance their agendas through a flood of proposals, does not serve the interests of investors.? The Company added that, ?it is asking the court to apply the Securities and Exchange Commission's proxy rules as written to stop this abuse and eliminate the significant resources required to address them.?

In its filing, the Company said that it requires relief from the court by March 19, 2024, because it must file its proxy statement by April 11, 2024. The Company added that it is scheduled to hold its annual shareholder meeting on May 29, 2024. The Company also stated that it supports measures to reduce emissions and that the lawsuit is not specific to environmental, social, and corporate governance.

The Company added that the lawsuit intends to fix what it describes as a broken process that the Company holds is being abused.