This week’s climate-related actions in boardrooms and courtrooms involving some of the largest international oil companies signal rising threat to the sector, Moody’s Investor Service said in a comment on the industry. “A new court ruling against Royal Dutch Shell and shareholder votes at ExxonMobil and Chevron highlights the increasing credit risk for major oil producers over concerns about climate change,” Moody’s said. This week, shareholders at the two largest U.S. oil corporations, Exxon and Chevron, showed with votes at the annual shareholders’ meetings that they want more climate action and specific climate-related policies from the oil majors to cut emissions and stay relevant in the energy transition. At Exxon, activist investor fund Engine No. 1 won board seats in a vote that showed more shareholders want changes to the way the oil supermajor works now and prepares for the future. At Chevron, shareholders backed a proposal that the […]