Americas News
ExxonMobil "Climate Change" Trial Starts in New York
Wednesday October 23, 2019
Oil major Exxonmobil is in court in New York this week.
The State of New York has taken the company to court under the Martin Act - a New York state law that had been used primarily to pursue financial fraud, according to Reuters.
The allegations are that the oil company failed to include the true cost of climate change in its assessments to investors.
While it used a 'proxy cost' to factor in the impact of climate change on its business activities, it is alleged that this was not always used in internal planning or cost assumptions, the report said.
The case is expected to run for three weeks.
