Activist investors versus Big Oil: how should ExxonMobil and British Petroleum respond?

Campbell, Rebecca ORCID: 0000-0001-8472-4839, Jasansky, Alfred and Wirth, Janna (2025) Activist investors versus Big Oil: how should ExxonMobil and British Petroleum respond? In: Sallai, Dorottya and Pepper, Alexander, (eds.) Navigating the 21st Century Business World: Case Studies in Management. LSE Press, London, UK, 159 - 176. ISBN 9781911712381

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Abstract

This case study contrasts two activist campaigns targeting Big Oil. In one, Arjuna Capital targeted Exxon (pushing it to adopt more ambitious climate targets). In the other, Bluebell Capital targeted British Petroleum (BP) (demanding it watered down its climate goals and exploit current high oil prices). The case addresses an enduring debate – what is the purpose of the firm? Is it to generate profits for shareholders within the confines of the law (i.e., Milton Friedman’s famous proposition)? Or do firms have obligations to wider society?

Item Type:	Book Section
Additional Information:	© 2025 The Authors
Divisions:	Management
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Date Deposited:	10 Jul 2025 11:15
Last Modified:	10 Jul 2025 23:19
URI:	http://eprints.lse.ac.uk/id/eprint/128760

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