NY prosecutor says Exxon needs to hand over documents on climate change riskEnlarge / UNITED STATES – SEPTEMBER 13: A customer looks over a gasoline pump at an Exxon station in Columbus, Ohio, U.S., on Thursday, Sept. 13, 2007. (Photo by Gary Gardiner/Bloomberg via Getty Images) (credit: Getty Images)
New York Attorney General Eric Schneiderman wants a state court to make oil giant Exxon Mobil turn over more documents in an investigation into whether the company lied to investors about the risks of climate change policy.
Schneiderman launched the investigation of Exxon in 2015, claiming that the company was downplaying climate change and the problems that could arise for the company because of it in a way that defrauded investors.
Exxon, one of the top US companies by market capitalization and also one of the top five polluters in the US, has claimed that complying with current subpoenas from the state’s top prosecutor is unduly burdensome.
The court filing today (PDF) claims that New York’s investigation so far “has uncovered significant evidence of potential materially false and misleading statements by Exxon” concerning how the oil giant calculated the cost of greenhouse gas (GHG) emissions in its investment decisions.
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