The world's largest oil company is accused of fooling investors while knowing about environmental destruction

by Enrico Strocchi

In October 2018, ExxonMobil , the world's largest oil company, filed a lawsuit from New York State that `` It was fraudulent that the information was hidden from investors despite knowing the risks of environmental destruction '' The trial will begin in October 2019. ExxonMobil is also preparing to fight thoroughly, and this trial has attracted a great deal of attention as it seeks responsibility for oil companies.

Exxon Accused of Pressuring Witnesses in Climate Fraud Case | InsideClimate News
https://insideclimatenews.org/news/06082019/exxon-climate-fraud-investigation-witness-pressure-investors-new-york-attorney-general

New York Attorney General Sues ExxonMobil Over Alleged Climate Change Fraud
https://www.esquire.com/news-politics/politics/a28636123/exxonmobil-lawsuit-climage-change-new-york/

On October 24, 2018, the New York state public prosecutor filed a lawsuit with ExxonMobil in the federal district court for 'disclosing investors' information regarding climate change.'

NY Exxon Mobile sued by NY-alleged that investors were deceiving information disclosure-Bloomberg
https://www.bloomberg.co.jp/news/articles/2018-10-25/PH55N66KLVR701

ExxonMobil was predicting public interest for corporate profits despite the fact that fossil fuels accurately predicted that atmospheric carbon dioxide concentrations would rise to critical levels. It is revealed in May. New York State is fraudulent when ExxonMobil predicted this climate change and knew that regulations were becoming more stringent and economic risks were higher, but did not disclose that fact to investors I complained that it was an act.

The largest oil major had predicted climate change due to global warming for 40 years ago-GIGAZINE

According to a new document (PDF file) submitted by New York to the court on August 2, 2019, the prosecution has sent a letter requesting witnesses to investment advisers and shareholders who support New York's claim . If they choose to testify, the ExxonMobil side may be summoned to the court.

In addition, Inside Climate News reports that ExxonMobil sent a letter that threatened the witnesses after the documents were submitted. However, lawyer Aaron Kaplan said, “The letter sent from ExxonMobil to the witness is very aggressive, but whether it crosses the threatening boundary is an interpretation. It can also be the content of simply insisting on doing things with each other. ”

This is not the first time an oil company has been sued for climate change. In 2018, the city of San Francisco and Oakland, California, sued five oil companies, including ExxonMobil, Chevron, Royal Dutch Shell, and asked for responsibility and compensation for climate change. However, the appeals of the two cities were dismissed on the grounds that 'humanity has enjoyed many benefits from oil so far.'

The decision that `` Oil companies are not liable for climate change '' comes down because the reason is `` Humanity has benefited a lot from oil ''-GIGAZINE