ExxonMobil Just Got Hit By This Fast-Rising New Energy Problem

25 Mar 2017   Climate

Big developments this week on a new challenge quickly rising for the energy industry… and beyond. Climate change reporting. ExxonMobil lost a key decision in an ongoing climate change battle Wednesday. When a New York judge ordered the oil giant to turn over correspondence from its executives on potential impacts of changing temperatures on the company’s business. That all comes out of an investigation launched by New York ‘s Attorney General. To determine if oil companies like Exxon have been misleading investors with regards to material business risks posed by climate change. If the courts find Exxon has been reticent in reporting climate risks, it opens the firm to significant regulatory fines and investor lawsuits. It would also allow regulators and prosecutors to go after other companies across the energy space. And it isn’t just in the U.S. where climate change reporting is becoming a big issue. Canadian securities […]

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