The energy transition to net-zero emissions has been in full swing in the past year with major dynamics such as President Biden recommitting the US to the Paris Agreement goals. Also, big oil companies are under pressure.
Shell was recently forced to implement stricter 2030 goals by a court in the Netherlands, and the board of ExxonMobil saw three of its members change due to the influence of activist investors.
Executives in the industrial gases sector may be familiar with the power of activist investors; in particular, the 2013 involvement of Bill Ackman and Pershing Square Capital Management in Air Products might come to mind. Decarbonisation is being pushed to the top of the agenda.
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