A long, hard battle has concluded for Exxon Mobil. After four years of back and forth with New York State, Exxon has been found not guilty.
The state launched an investigation into Exxon in 2015, claiming that the company knew about the impact that its carbon emissions were having on the environment and attempted to deceive the public on the matter.
In 2016, the U.S. Securities and Exchange Commission (SEC) launched a separate investigation to see how the company valued its assets to see if there was any evidence to suggest dishonesty on Exxon’s part with their stakeholders. In 2018, the SEC dropped the investigation after reading more than four million documents which cleared any suggestion of deceit on Exxon’s part.
“Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided our investors with accurate information on the risks of climate change. The court agreed that the Attorney General failed to make a case, even with the extremely low threshold of the Martin Act in its favor,” said Casey Norton, Exxon Spokesperson.
However, this may not be the end of lawsuits for Exxon or other energy companies. Climate change activist and state legislators have been on a mission to hold these companies accountable for what they perceive as perpetuating the idea of anti-climate change practices.