A federal court in Texas has dismissed ExxonMobil's lawsuit against activist shareholders demanding a reduction in greenhouse gas emissions and contributions to climate change. The lawsuit against Arjuna Capital was dropped after the activist group agreed not to bring climate science to the company's annual meetings. The dispute highlighted whether climate risk is a valid business concern and sparked corporate resistance against shareholder proposals. The court ruled in favor of the shareholders, stating that Exxon's claim was no longer valid after Arjuna agreed to withdraw future proposals concerning greenhouse gas emissions. Exxon's legal action was criticized for potentially limiting shareholders' ability to raise concerns with public companies outside of regulatory channels. Climate group Follow This hailed the dismissal as a victory, emphasizing the importance of shareholders in ensuring the long-term sustainability of oil and gas companies in the face of the climate crisis. Exxon's stance was supported by business trade groups concerned about activist shareholders pushing political and social agendas through corporate resolutions.