Climate Change And Shareholder Disclosure: More Investigations On The Horizon?

Climate change science is back in the headlines and social media. New York is attempting to use its powers under the Martin Act to investigate prior corporate disclosures on climate change. In early November, New York Attorney General Eric Schneiderman issued a subpoena to Exxon and sources say New York is investigating Exxon's disclosures to the Securities and Exchange Commission (SEC) in light of recent allegations that Exxon suppressed internal investigations on climate science over the last 40 years. The Exxon investigation follows on the heels of Los Angeles Times and InsideClimate reviews of Exxon archived documents earlier this year. According to Exxon, these reports distort ExxonMobil's history of climate research through selective, out-of-context use of publicly available company documents. Exxon has made the documents available on its website so that readers can make their own evaluation.