The biggest U.S. fossil fuel company is accused of lying to its investors about the cost of carbon emissions to its business
“A trial kicked off on Tuesday to establish whether Exxon Mobil, the country's largest fossil fuel company, lied to investors about the cost of carbon emissions to its business. Starting in 2010, Exxon began telling the public that it had assigned a price to carbon internally to model how government regulation would affect its business. However, it used two sets of figures: A high number that it presented to investors and a lower number in internal documents. Effectively, it was telling investors that its business decisions had fully considered the effects of future government regulations, when they had not. Exxon maintains that its use of several sets of figures is perfectly legitimate. New York is calling it fraud.“
