New York Supreme Court has ruled that Exxon Mobil and PwC must release documents relating to the oil company’s presentation of its exposure to climate change risks. Several state attorneys general announced in March that they would pursue Exxon, the largest publicly-traded oil firm in the world, for potential violations of securities laws. Exxon is alleged to have downplayed the dangers posed by climate change and its vulnerability to efforts to combat such change. The New York’s court also asked Exxon to explain why it had not downgraded the value of its assets due to the falling oil price.
New York’s Supreme Court has ruled that Exxon Mobil and PwC must release documents relating to the oil company’s presentation of its exposure to climate change risks. Several state attorneys general announced in March that they would pursue Exxon, the largest publicly-traded oil firm in the world, for potential violations of securities laws. Exxon is alleged to have downplayed the dangers posed by climate change and its vulnerability to efforts to combat such change. The New York court also asked Exxon to explain why it had not downgraded the value of its assets due to the falling oil price.