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‘It’s been a really rough few days for ExxonMobil, the world’s largest publicly traded oil and gas company.
First, on Wednesday, the Rockefeller Family Fund announced it would divest from the oil giant, saying it would “eliminate holdings” of Exxon Mobil Corporation (XOM.N) “effective immediately,” asserting that the company associated with the family fortune has misled the public about the risks of climate change.
Because of the long-established threat posed to the planetary ecosystem by fossil fuel extraction and use, the fund said “there is no sane rationale for companies to continue to explore for new sources of hydrocarbons.”’