Exxon Misled On Climate Change Costs, Investors Say
By Frank G. Runyeon (October 23, 2019, 8:56 PM EDT) -- Investors told a New York state trial judge on Wednesday that Exxon Mobil misrepresented how it was calculating the costs of climate change after they asked about the company's decision to invest in what they saw as high-risk assets like oil sands.
On the second day of the bench trial, environmentally conscious investors serving as witnesses for the New York attorney general told Justice Barry Ostrager they relied on Exxon's assertions that the company was accounting for climate change investment risks in a way that turned out to be different from the company's actual practice.
Michael Garland, who helps oversee $200...
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