In a major moment for what’s come to be called “shareholder capitalism,” activist hedge fund Engine No. 1 successfully claimed three seats on Exxon's board of directors this year. Its explicit mission is to force the energy goliath to turn away from carbon and toward more clean forms of energy. On this episode of the Capitalisn’t podcast, hosts Luigi Zingales and Bethany McLean speak with the founder of Engine No. 1, Chris James, about how the fund approached the proxy fight, his views on shareholder capitalism, and the future of activist hedge funds.

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