PARHAM: Divesting from fossil fuels is misguided — here is why

The group should be applauded for being proactive and taking action to address the real and urgent threat posed by the climate crisis. Exxon continues distributing dividends as before, but now, the return for owning Exxon shares — known as the dividend yield — has doubled. They care little about the climate crisis — they believe it is all a hoax, and are happy to make a buck. The only difference achieved in the world is that the “good people” lost money while selling Exxon shares, and the “bad people” earned money while buying Exxon shares. But Exxon shares changing hands leads to a second, possibly more insidious effect — the impact on corporate governance.