Tags: exxon mobil | allegations | climate | research | investigation

ExxonMobil Probed for Allegations of Hiding Climate Research

ExxonMobil Probed for Allegations of Hiding Climate Research
 
(Andrey Rudakov/Bloomberg via Getty Images)

By    |   Thursday, 05 November 2015 05:33 PM

The New York state attorney general's office is investigating allegations that ExxonMobil lied to the public about the risks of climate change or to its own investors about how those risks impacted its bottom line, The New York Times reports.

ExxonMobile confirmed on Thursday it had received a subpoena from Attorney General Eric T. Schneiderman seeking information regarding climate change, according to CNN Money.

According to the Times, the probe is looking all the way back into the 1970s when ExxonMobil funded groups that disagreed with the notion that humans are causing global warming.

ExxonMobil denied the allegations.

"We unequivocally reject the allegations that ExxonMobil has suppressed climate-change research," said Kenneth P. Cohen, the company's vice president for public affairs at Exxon Mobil.

"ExxonMobil has included information about the business risk of climate change for many years in our 10-K, Corporate Citizenship Report and in other reports to shareholders," Cohen's statement read.

A separate investigation involving America's largest coal producer, Peabody Energy, has been underway for the past two years, though it has not been previously reported, the Times quoted sources with knowledge of the case.

"Peabody continues to work with the New York attorney general's office regarding our disclosures, which have evolved over the years."

The ExxonMobil probe could end up expanding to other oil companies as well, the Times reported.

The investigation is being conducted under the auspices of New York's Martin Act, which gives the attorney general authority to investigate financial fraud.

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The New York state attorney general's office is investigating allegations that ExxonMobil lied to the public about the risks of climate change or to its own investors about how those risks impacted its bottom line, The New York Times reports.
exxon mobil, allegations, climate, research, investigation
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2015-33-05
Thursday, 05 November 2015 05:33 PM
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