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Climate

Exxon Triumphs Over Activists

On shareholder proposals, ex-Tesla employees, and extra-hot days.

Sunrise over a field.

Thursday

Heatmap Illustration/Getty Images

Current conditions: More than 400,000 households are currently without power in storm-battered Texas and the southern Plains • Southeast Louisiana tied a century-old temperature record on Memorial Day, recording a high of 98 degrees Fahrenheit in Baton Rouge • India may have broken its own heat record with a preliminary reading of about 126 degrees Fahrenheit near New Delhi.

THE TOP FIVE

1. Exxon board members clinch reelection

ExxonMobil Chairman Darren Woods and Lead Director Joseph Hooley easily won reelection at the company’s annual general meeting on Wednesday, neutralizing a threatened shareholder uprising over its climate policies. Several major pension funds said ahead of the meeting that they would vote to remove most of Exxon’s board after the company sued activist shareholders pushing for stronger emissions reduction targets. Though most of its petrochemical peers have similar targets, the company argued that the activists’ true goal was to “interfere with ExxonMobil’s business and to promote their own interests over those of ExxonMobil’s shareholders.”

The resistance effort “amounted to a test of whether top fund firms would rally to defend the small shareholders whose resolutions have put topics like the environment and workforce diversity at the center of many corporate annual meetings,” Reuters said. “Wednesday’s results suggested the answer was no.” All 12 of Exxon’s director nominees received between 87% and 98% support at the meeting, the company reported. The activists, meanwhile, withdrew their proposal in February, but Exxon is still pursuing the matter in court.

2. EV charging companies hire former Tesla employees

The U.S. electric vehicle sector is snapping up Tesla employees who were laid off when the company gutted its charging team last month. Atlanta-based charging provider EnviroSpark Energy Solutions has hired a dozen of them, E&E News reported, while other charging companies have landed high-profile hires let go by Tesla or are in talks to do so. “It does present an awesome opportunity for other charging operators like us to fill in the gap,” David Jankowsky, CEO of Francis Energy, told E&E News. There is still some trepidation, however, over how Tesla’s tribulations could affect the broader industry’s future. Despite its poor recent performance, Tesla still dominates the U.S. EV market, so a dip in consumer confidence could have negative ripple effects on EV uptake.

3. Rich countries meet $100 billion aid target two years late

The Organisation for Economic Cooperation and Development announced Wednesday that the world’s rich countries had met their goal of delivering $100 billion in annual climate finance to poorer countries in 2022 — two years after their self-imposed deadline, the group said. The 2020 target was first set at the 2009 United Nations climate change conference in Copenhagen, and the delay in meeting it had strained recent climate talks. Developed countries came up with $115.9 billion in climate finance in 2022, OECD data shows, an increase of 30% from 2021. That’s the biggest year-on-year jump so far. “Exceeding this annual commitment materially by more than 15% is an important and symbolic achievement which goes some way towards making up for the two-year delay, which should help build trust,” OECD Secretary-General Mathias Cormann said in a statement.

Climate advocates warned, however, that achieving this aim is not an end point in itself. Transitioning to clean energy and adapting to new climate realities are both expensive processes. “While domestic finance, strong policies and private finance are important, for these countries, international public finance needs to play a lynchpin role,” Melanie Robinson, global climate, economics and finance director at the World Resources Institute, said in a statement. Discussions about setting a new climate finance goal will be a centerpiece of COP29 in Azerbaijan.

4. An IRA rebate roll-out

New York will be the first state to launch home energy rebates created by the Inflation Reduction Act, the Biden administration announced Thursday. The initial phase of New York’s $158 million rebate program will be aimed at single-family homes and multifamily properties with up to four units, while later phases will expand to larger buildings and retailers. It will provide up to $14,000 per housing unit for upgrades such as better insulation, heat pumps, and heat pump water heaters. A separate, $159 million IRA home efficiency rebate program is expected to follow. Massachusetts, Michigan and Rhode Island have all applied for the funding to establish their own home energy rebate programs under the IRA — a process that’s turned out to be messier than some had hoped, according to Heatmap’s Emily Pontecorvo.

5. Study: Extra-hot days are on the rise

The average American experienced 20 more extra-hot days over the past year than would have been expected without climate change, a new scientific analysis found. Globally, the average person experienced 26 more extra-hot days due to climate change, while in a few countries, that number exceeded 120, according to the report by Climate Central, the Red Cross Red Crescent Climate Centre, and World Weather Attribution. The researchers considered temperatures abnormal when they exceeded 90% of a location’s daily readings recorded between 1991 and 2020. Americans experienced 39 such days in total over the last 12 months. Almost 80% of the world’s population experienced 31 or more.

Manila residents swelter during a May heat wave. Manila residents swelter during a May heat wave. Ezra Acayan/Getty Images

THE KICKER

The National Weather Service issued its first-ever warning for hail the size of a DVD — that is, a diameter of approximately 5 inches — in northern Texas on Tuesday.

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AM Briefing

The Zeal of the Inverter

On New York’s solar farmland, German nuclear, and Argentinian gas

U.S. Weighs Banning Foreign Inverters
Heatmap Illustration/Getty Images

Current conditions: As a dangerous heat dome settles over the central and eastern United States, evapotranspirate, or “sweat,” from corn has rendered Iowa and Illinois more humid than the Amazon • Temperatures just topped 100 degrees Fahrenheit in Zagreb, where intense thunderstorms are deluging the Croatian capital today • Hanoi, Vietnam, is in the midst of a week of severe thunderstorms.

THE TOP FIVE

1. U.S. weighs banning foreign inverters

In May 2025, Reuters broke news that the U.S. government had discovered rogue communications devices in the inverters that converted the direct current flow of electricity from certain Chinese-made solar panels to the alternating current needed to patch the generators onto the grid. Now, more than a year later, Reuters is out with another scoop indicating that the Trump administration is preparing to slap new import restrictions on foreign-made inverters, particularly from China. The prohibition being drafted by the Federal Communications Commission would apply to all new foreign models of inverters and could be published as early as this year, unnamed sources told the newswire.

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Daily Briefing

Congress Never Meant to Design This

The Supreme Court keeps changing the terms of the deal between the legislative branch and the executive.

Congress Never Meant to Design This
Illustration by Simon Abranowicz

The Supreme Court ended its 2025–2026 term today, issuing a flurry of rulings on its most controversial cases. Most significantly, it rejected President Trump’s attempt to overturn birthright citizenship, preserving the 14th Amendment as it has been read for more than a century. It also struck down restrictions on how much political parties can spend in coordination with candidates — a change that could shape political strategies in November’s midterm election.

But I suspect that the year’s most important ruling for energy and climate policy came … yesterday. In a 6-3 ruling, the court’s conservative majority allowed President Trump to fire the commissioners of independent agencies without cause. Although the case concerned the Federal Trade Commission, it will matter for every independent agency that governs energy and climate policy.

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Climate

My Extremely Hot European Vacation

I decided to go to Italy in June with my husband, my 9-month-old daughter, and my 69-year-old father. What could go wrong?

My Extremely Hot European Vacation
Illustration by Simon Abranowicz

The start of a vacation really begins 10 days before departure, when your arrival date first appears on your weather app. Like the turning over of a tarot card, it is this initial forecast that hints at the potential character of your trip — whether your beach vacation might be ruined by rain, or if spring break will fall this year during an unanticipated cold spell.

For our recent trip to Bologna, Italy, my family and I seemed to have pulled one of the worst cards in the deck: Our weather apps suggested early on that the high would be near 100 degrees Fahrenheit on the weekend of our arrival.

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