Reassessing the Board Fight That Was Meant to Transform Exxon

What did Exxon’s main agitator actually achieve?

At Exxon Mobil’s annual shareholder meeting on Wednesday, activist investors and big shareholders, including

, will take on the company with a series of proxy measures aiming to push it to cut emissions and speed its decarbonization efforts.

Climate investors aren’t expecting a triumphant repeat of what happened two years ago, when Engine No. 1, a San…