Executive compensation

Expert Voices

Investor pressure is driving climate action at fossil fuel companies

an oil derrick holding up a small globe
Illustration: Rebecca Zisser/Axios

As the political urgency around climate change has grown, activist shareholders are increasingly pressuring fossil fuel companies to change how they operate.

The big picture: Climate-related reforms have received especially strong support from large institutional investors, yielding changes in disclosure, governance, compensation and more.

Scott Gottlieb joins Pfizer's board

Scott Gottlieb speaks at a public event.
Scott Gottlieb is getting closer to the industry he regulated. Photo: Chuck Kennedy for Axios

Pfizer, which has clashed with President Trump over drug prices, has appointed former FDA commissioner Scott Gottlieb to its board of directors. The role pays $335,000 annually in cash and stock.

The big picture: Since leaving the Trump administration roughly 3 months ago, Gottlieb has rejoined a conservative think tank and a venture capital firm that has pharmaceutical investments. Cycling between public office and well-paying private sector companies has become commonplace among FDA officials as well as other top health agency leaders.