Environmental Liabilities Part 1- Exxon-Mobil
Originally posted 5 November 2018
Two major stories hit the wire this past week spotlighting the emerging realization that financial markets do care about the scale of environmental liabilities of energy companies. In this post the lawsuit filed by New York State's Attorney General is examined. In Part 2, the story about estimated environmental liabilities reported by the Alberta Energy Regulator to industry in a private meeting in February 2018 is explored.
On 24 October the Attorney General of the State of New York, Barbara Underwood, brought a lawsuit against Exxon-Mobil. The lawsuit alleges ExxonMobil "fraudulently, systematically and repeatedly has deceived investors about the impact that future climate change regulations could have on the company's assets and value."New York...