Probe of Exxon's climate change disclosures expands

Tue Mar 29, 2016 4:43pm EDT
 
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By Valerie Volcovici and Sarah N. Lynch

WASHINGTON (Reuters) - The top attorneys from Massachusetts and the U.S. Virgin Islands said on Tuesday they will investigate whether Exxon Mobil Corp (XOM.N: Quote) misled investors and the public about the risks of climate change.

Massachusetts Attorney General Maura Healey and Virgin Islands Attorney General Claude Earl Walker announced their probes at a news conference in New York, flanked by New York State Attorney General Eric Schneiderman, former U.S. Vice President Al Gore and top attorneys from other states.

They said their probes into Exxon will be similar to ones launched by New York and California.

Healey said fossil fuel companies that have deceived investors about the risks climate change poses to the planet and to their bottom lines "must be held accountable."

Walker said he wants to ensure there is transparency so consumers can make informed choices about what they purchase.

"If Exxon Mobil has tried to cloud their judgment, we are determined to hold the company accountable,” he said.  

Exxon believes the probes by state attorneys general are "politically motivated," said Suzanne McCarron, the company's vice president for public and government affairs.

"We are actively assessing all legal options," she said.   Continued...

 
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas Jackson -