Over the past few months, the New York Attorney General has been supported by socially responsible investment managers in its investigation of Exxon Mobil to see if the company was intentionally deceptive regarding climate change risks.
“The investigation focuses on whether statements the company made to investors about climate risks as recently as this year were consistent with the company’s own long-running scientific research,” writes The New York Times. The timeframe in question spans over a decade, during which Exxon allegedly funded groups to undermine climate change, despite their own in-house team of scientists relaying potential consequences to executives. Exxon rejected these allegations.
This investigation may also spur a closer look at other energy companies, such as Peabody Energy.
Previous efforts to hold energy companies accountable for their climate damage have failed in court, but were filed by private plaintiffs. This investigation is on a different scale and may drag out for years.
Socially responsible investment managers are joining the fight, including SunStar Strategic ally Azzad Asset Management. Contact us to learn how we can help your voice be heard.
Read the full scoop on The New York Times.