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  "documentTitle": "Engine No. 1 | Activist Presentation Deck | 83 slides",
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  "authorName": "Engine No. 1",
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  "presentationDate": "2021-05-01 00:00:00",
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  "pageNumber": 26,
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  "notes": "The slide uses a combination of a scatter plot (Bloomberg transition scores) and a dot plot (CapEx share) to visualize the gap between ExxonMobil and its peers.",
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      "kind": "chart",
      "text": "Low-carbon Investment as a Share of Capital Expenditure (2015-2020)",
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      "text": "Bloomberg Business Model Transition Scores (March 2021)",
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      "text": "ExxonMobil significantly lags public integrated oil companies in measures of transition-readiness, scoring better than only state-controlled entities. While recently shifting its rhetoric on the importance of low-carbon strategies, ExxonMobil has paid little actual attention to such efforts.",
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      "kind": "source-note",
      "text": "Charts Source: Bloomberg's report BNEF Oil and Gas Transition Scores, Leaders and Laggards (March 24, 2021). Scores out of 10, 10 being the best.",
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      "kind": "title",
      "text": "Despite rhetoric, ExxonMobil has shown little interest in even gradually repositioning its business",
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      "beatName": "Agitate (Make it worse)",
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      "evidence": "The document highlights the consequences of ExxonMobil's current strategy, including value destruction and lack of progress on emissions reduction.",
      "position": 1,
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      "evidence": "The document highlights the underlying issues with ExxonMobil's strategy and capital allocation, including lack of discipline and poor returns.",
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      "objective": "Reveal the underlying issues with ExxonMobil's strategy and capital allocation",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
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