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  • Writer's pictureProfessional Magazine

Exxon wins big in court on climate change compliance

Found not guilty of defrauding investors, Exxon is vindicated in court related to charges that they were not forthright with investors when accounting for the cost of climate-change regulation compliance.

The claim from the New York attorney general's office was that Exxon records did not show it had calculated the risks in climate change concerns.

According to the state's attorney general, Letitia James, Exxon was accused of lying to shareholders about its application of a "proxy cost" for carbon in estimating for projected climate change ordinances.

According to New York Supreme Court Justice Barry Ostrager, AG office "failed to prove, by a preponderance of the evidence, that ExxonMobil made any material misstatements or omissions about its practices and procedures that misled any reasonable investors.


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