Engine No. 1's Grancio: ‘People Will Appreciate an Economic Argument'
Bloomberg Markets|October - November 2021
ENGINE NO. 1 sent shock waves across corporate America in May when the fledgling investment firm won a boardroom battle with Exxon Mobil Corp., securing three seats on the oil and gas giant’s board after purchasing only about $40 million of its stock.
SCOTT DEVEAU
Engine No. 1's Grancio: ‘People Will Appreciate an Economic Argument'
The shareholder vote was heralded as a major victory for so-called ESG investing, which focuses on improving corporate environmental, social, and governance metrics. Afterward, Engine No. 1 raised more money from investors, launched an exchange-traded fund with the ticker VOTE, and filed for a second ETF focused on climate issues.

Chief Executive Officer Jennifer Grancio, 49, is driving strategy for Engine No. 1, which now has about $430 million worth of assets under management. A native of Springfield, Mass., with degrees from Stanford University and Columbia Business School, Grancio is a veteran of the fund management industry. She was part of the team that founded the iShares family of ETFs at Barclays Global Investors, now part of BlackRock Inc. Based in San Francisco (Engine No. 1’s name was inspired by the city’s first fire station), Grancio plans to spend some of her time in New York, where the company is building an office in Manhattan’s Meatpacking District. She spoke to Bloomberg Markets in September about the Exxon boardroom victory and building a business from her home office. The interview has been condensed and edited for clarity.

SCOTT DEVEAU: What was it like to build a business and wage a boardroom battle with one of the world’s biggest oil giants while working from home during a pandemic?

This story is from the October - November 2021 edition of Bloomberg Markets.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the October - November 2021 edition of Bloomberg Markets.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM BLOOMBERG MARKETSView All
See Which Countries Are Falling Behind On Climate Change
Bloomberg Markets

See Which Countries Are Falling Behind On Climate Change

Under the Paris Agreement, 190 countries and the European Union pledged to take steps to hold the global temperature rise to less than 2C (3.6F) from preindustrial levels—and preferably 1.5C.

time-read
4 mins  |
October - November 2021
Billionaires Vie for the Future of Brazilian Finance
Bloomberg Markets

Billionaires Vie for the Future of Brazilian Finance

An escalating battle between two billionaires is upending the financial community in São Paulo, Latin America’s wealthiest city.

time-read
8 mins  |
October - November 2021
Ford Foundation's Darren Walker: ‘We Have to Get Uncomfortable'
Bloomberg Markets

Ford Foundation's Darren Walker: ‘We Have to Get Uncomfortable'

DARREN WALKER, 62, disrupted his Wall Street life more than 25 years ago when he left what is now UBS Group AG to volunteer at a school and eventually pursue a career in community development and philanthropy. Since 2013 he’s been at the pinnacle of the philanthropic world as president of the Ford Foundation, created by the family of automaker Henry Ford during the Great Depression to advance human welfare.

time-read
8 mins  |
October - November 2021
Fueling the Ener Transition
Bloomberg Markets

Fueling the Ener Transition

I MAY BE BIASED, but some of the most important research and data on the Bloomberg terminal lies in one of its lesser-known functions: {BNEF }

time-read
1 min  |
October - November 2021
Dig Into Analysts' Estimates for Disruptive Companies
Bloomberg Markets

Dig Into Analysts' Estimates for Disruptive Companies

THE PANDEMIC ERA generated a whole wave of disruptive companies as it accelerated the introduction of new products and services in areas including artificial intelligence, digitization, electronic payments, online meeting platforms, and virtual currencies.

time-read
4 mins  |
October - November 2021
Climate Risks Come for Sovereign Credit
Bloomberg Markets

Climate Risks Come for Sovereign Credit

FOR YEARS climate scientists have warned about the ferocious wildfires and hurricanes that are now overwhelming many communities. Today alarms are ringing about a related financial danger: risks lurking within government bonds, the biggest part of the global debt market.

time-read
7 mins  |
October - November 2021
Responsible-Investing Pioneer Lydenberg Says ESG Needs An Upgrade
Bloomberg Markets

Responsible-Investing Pioneer Lydenberg Says ESG Needs An Upgrade

STEVE LYDENBERG’S passion for social change was inspired by anti-Vietnam War demonstrations, consumer boycotts, and the movement to divest from apartheid South Africa. But he didn’t take to the streets. Instead, Lydenberg turned to the world of finance to help catalyze societal change.

time-read
8 mins  |
October - November 2021
Engine No. 1's Grancio: ‘People Will Appreciate an Economic Argument'
Bloomberg Markets

Engine No. 1's Grancio: ‘People Will Appreciate an Economic Argument'

ENGINE NO. 1 sent shock waves across corporate America in May when the fledgling investment firm won a boardroom battle with Exxon Mobil Corp., securing three seats on the oil and gas giant’s board after purchasing only about $40 million of its stock.

time-read
6 mins  |
October - November 2021
Find Out Which Companies May Ramp Up Payouts After Covid
Bloomberg Markets

Find Out Which Companies May Ramp Up Payouts After Covid

AS THE PANDEMIC DISRUPTED business last year, many companies cut or suspended dividends. Which will boost their payouts when economies pick up again?

time-read
2 mins  |
October - November 2021
Get Into the Minds of Central Bankers as They Navigate Shocks
Bloomberg Markets

Get Into the Minds of Central Bankers as They Navigate Shocks

HAVE YOU EVER WONDERED how central bankers forecast the impact of shocks on the economy?

time-read
4 mins  |
October - November 2021