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Alternative Market Briefing

"The writing is on the wall" for oil companies (part 1)

Tuesday, June 22, 2021

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Matthew Breidert
B. G., Opalesque Geneva:

Matt Breidert, senior portfolio manager and managing director of Listed Sustainable Infrastructure & Energy Transition at TortoiseEcofin, talks to Opalesque about the role of shareholders in oil and other non-green companies.

TortoiseEcofin is a merger between Tortoise, an expert investor in the energy value chain for more than 20 years, and Ecofin, which unites ecology and finance and has roots back to the early 1990s. Founded in 2002, the company has 130 employees in Kansas City, St. Louis, New York, and London.

Opalesque: Events last month at Shell, ExxonMobil, and Chevron (*) highlight an exceptional push to hold oil companies accountable for their contributions to climate change. What do you think the effects will be?

Matt Breidert: Those events highlight the proverbial "the writing is on the wall," as pertains to the business-as-usual potential for these companies.

There are different ways in which forces are being pushed onto the management team of these companies to change their decision making, their strategic focus. In fact, these victories potentially bolster more participation from more participants who now realise that the dam has broken.

In the case of Exxon, it very clearly shows latent discontent by shareholders who are willing to......................

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