Exxon facing shareholder revolt over approach to climate change

A shareholder revolt at ExxonMobil led by the billionaire Rockefeller family has won the support of four significant British institutional investors who will call on Monday for a shakeup in the governance of the world's biggest oil company.

Guardian.co.uk has learned that F&C Asset Management Morley Fund Management the Co-Operative Insurance Society and the West Midlands Pension Fund are throwing their weight behind a resolution demanding that ExxonMobil appoints an independent chairman to stimulate debate on the company's board.

Exxon is facing a rebellion from its investors over its hardline approach to global warming. The firm has refused to follow rival oil companies in committing large-scale capital investment to environmentally friendly technology such as wind and solar power.