The SEC Investigates Exxon Climate Accounting

In news that could provide major support for the global climate-change and fossil-fuel divestment movements, the SEC (Securities and Exchange Commission) has opened a federal investigation of charges that Exxon has materially misrepresented the value of its fossil fuel assets, in part, by knowingly misrepresenting the likely major impact of climate change on their future use.    exxonsec-news1.jpg

Journalists and New York Attorney General Eric Schneiderman claim to have found evidence in internal Exxon memos that the company has known since the 1970's that their products were generating climate change, while publicly denying it was real.  As one aspect of the SEC investigation, this claim is now being formally investigated as a potential fraud perpetrated by the company upon the public and its shareholders. Bloomberg covered the SEC investigation and behind-the-scenes battle in detail HERE.


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  • published this page in Home 2016-10-05 09:37:55 -0700
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