By Justin Mikulka • Saturday, March 10, 2018 – 06:25
In January, ExxonMobil filed a legal petition seeking to depose more than a dozen city and county government officials in California, claiming that the municipal officials are defrauding investors by not fully disclosing the risks posed by climate change.
You read that right. Exxon is legally challenging cities and counties for not talking up the risks of climate change enough to the investors who purchase municipal bonds for those localities. Has Exxon had a change of heart and now become concerned about transparency and the impacts of climate change?
Let’s take a closer look.
Exxon is responding to the municipalities which have filed lawsuits seeking to hold Exxon and other oil companies accountable for the damages to their cities from sea level rise. Exxon’s legal petition is calling those lawsuits a “conspiracy” because — according to its petition — “A collection of special interests and opportunistic politicians are abusing law enforcement authority and legal process to impose their viewpoint on climate change.”
The oil giant goes on to say: “ExxonMobil finds itself directly in that conspiracy’s crosshairs. Even though it has long acknowledged the risks presented by climate change …”