Exxon Mobile under Investigation for Misleading People about Risks of Climate Change
Exxon Mobile under Investigation for Misleading People about Risks of Climate

Exxon Mobile is under investigation by the New York state officials for allegedly misleading the public and investors about the climate change. Environmentalists blame the company saying that the move can broader the estimates with the conduct of big energy companies.

Exxon Mobil spokesman Scott Silvestri confirmed in a recent statement on Thursday that Exxon Mobile has received a subpoena from the office of the attorney general of New York, Eric Schneiderman, related to the issue and was assessing its response.

The NY officials in their investigation majorly focus to know whether Exxon Mobil intentionally hid the risk of climate change from its investors. It is said that the company hid from its investors that climate change could pose to its business.

Schneiderman said the issue will be put both under the consumer protection laws and New York’s Martin Act, which is a securities law that protects investors.

A person familiar with the investigation told that the company has been asked to disclose several company records and will also have to give a variety of documents.

Silvestri said, “We unequivocally reject allegations that Exxon Mobil suppressed climate change research that are inaccurate distortions of Exxon Mobil’s nearly 40-year history of climate research that was conducted publicly in conjunction with Department of Energy, academics and UN Intergovernmental Panel on Climate Change”.

Schneiderman is also busy conducting a similar investigation regarding Peabody Energy, a leading coal company.