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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In one trial filed on Wednesday by the New York Attorney General, Exxon is accused of representing false "indirect costs", projections that take into account the risk borne by companies whose assets and business strategies are likely to be impacted by greenhouse gas (GHG) emission limits."data-reactid =" 23 ">In one trial filed on Wednesday by the New York Attorney General, Exxon is accused of representing false "indirect costs", projections that take into account the risk borne by companies whose assets and business strategies are likely to be impacted by greenhouse gas (GHG) emission limits.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "It is estimated that Exxon has generated future expenditures of more than $ 25 billion related to several oil sands projects in Canada."data-reactid =" 24 ">It is estimated that Exxon has generated future expenditures of more than $ 25 billion related to several oil sands projects in Canada.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = ""Exxon created a façade to deceive investors into believing that the company was managing the risks of regulating climate change for its business when in fact it was systematically and systematically underestimating or ignoring them. to his public statements, "state attorney from New York. General Barbara Underwood stated in a Press release."data-reactid =" 25 ">"Exxon created a façade to deceive investors into believing that the company was managing the risks of regulating climate change for its business when in fact it was systematically and systematically underestimating or ignoring them. to his public statements, "state attorney from New York. General Barbara Underwood stated in a Press release.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In a statement, Exxon responded to the charges by calling them "unfounded" and "the product of in camera lobbying by special interests, political expediency and the inability of the attorney general to admit that a three-year investigation had revealed no wrongdoing ".
"data-reactid =" 26 ">In a statement, Exxon responded to the charges by calling them "unfounded" and "the product of in camera lobbying by special interests, political expediency and the inability of the attorney general to admit that a three-year investigation had revealed no wrongdoing ".
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "An investigation into Exxon was opened in 2015 by former Attorney General of New York State Eric Schneiderman. The investigation initially sought to determine whether Exxon's internal climate change research matched the risk statements it had presented to its investors."data-reactid =" 27 ">An investigation into Exxon was opened in 2015 by former Attorney General of New York State Eric Schneiderman. The investigation initially sought to determine whether Exxon's internal climate change research matched the risk statements it had presented to its investors.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = ""There is no evidence to support these allegations," said Exxon, "who comes after a press conference in 2016 of former Attorney General of New York Eric Schneiderman, Al Gore and other prosecutors democratic generals, a discredited media campaign and lobbying against fossil fuels. activists. ""data-reactid =" 28 ">"There is no evidence to support these allegations," said Exxon, "who comes after a press conference in 2016 of former Attorney General of New York Eric Schneiderman, Al Gore and other prosecutors democratic generals, a discredited media campaign and lobbying against fossil fuels. activists. "
Mr. Schneiderman is one of many attorneys general in New York who acted aggressively under a wide-ranging New York law called the Martin Act. The law, often regarded as the most severe for the country's defendants, predates the Securities and Exchange Commission and allows the Attorney General to investigate, prosecute and recover damages in court cases. civil fraud without proving fraudulent intent.
Rex Tillerson cited in the complaint
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Exxon's former executive director and former US Secretary of State, Rex Tillerson, is specifically mentioned in the suit, although he is not named as a defendant. According to the lawsuit, Tillerson "had known for years that the company was deviating from its public statements by using a second set of indirect costs resulting from undisclosed internal guidelines, which were lower than the indirect costs disclosed to the public." "data-reactid =" 31 ">Exxon's former chief executive and former US Secretary of State, Rex Tillerson, is specifically mentioned in the complaint, although he is not named as a defendant. According to the lawsuit, Tillerson "had known for years that the company was deviating from its public statements by using a second set of indirect costs resulting from undisclosed internal guidelines, which were lower than the indirect costs disclosed to the public."
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "According to the complaint, "Exxon has used internal practices that are inconsistent with its statements, not disclosed to investors, and exposes the company to greater risks as a result of climate change regulation than investors have been forced to do. believe"."data-reactid =" 32 ">According to the complaint, "Exxon has used internal practices that are inconsistent with its statements, not disclosed to investors, and exposes the company to greater risks as a result of climate change regulation than investors have been forced to do. believe".
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The complaint highlights Exxon's continued responsibility to apply carbon proxy costs, despite President Donald Trump's announcement of June 1, 2017 that the United States would be withdrawn from the US market. Paris Agreement. He adds that eGovernments and governments around the world continue to enforce mission rules, as well as a bipartisan coalition of US states that bypassed Trump's actions by making independent commitments to reduce GHG emissions."data-reactid =" 33 ">The complaint highlights Exxon's continued responsibility to apply carbon proxy costs, despite President Donald Trump's announcement of June 1, 2017 that the United States would be withdrawn from the US market. Paris Agreement. He adds that eGovernments and governments around the world continue to enforce mission rules, as well as a bipartisan coalition of US states that bypassed Trump's actions by making independent commitments to reduce GHG emissions.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The lawsuit seeks to end the alleged misrepresentation and a review of Exxon's practices, as well as an unspecified amount of damages."data-reactid =" 34 "> The lawsuit seeks to end the alleged misrepresentation and a review of Exxon's practices, as well as an unspecified amount of damages.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Alexis Keenan is a NYC-based journalist for Yahoo Finance. Previously, she produced live news for CNN and MSNBC and was a former litigator."data-reactid =" 35 ">Alexis Keenan is a NYC-based journalist for Yahoo Finance. Previously, she produced live news for CNN and MSNBC and was a former litigator.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read more:"data-reactid =" 36 ">Read more:
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