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Exxon Mobil is on trial for allegedly misleading investors about the climate crisis


Today, Exxon Mobil goes on trial — but not for being one of the largest oil and gas companies in the world, or for emitting significant greenhouse gases into the atmosphere, or for polluting the Earth. Rather, the gasoline giant is being sued by the New York Attorney General's office for allegedly lying to its investors about how safe it is to invest in Exxon Mobil despite governments beginning to establish laws regulating fossil fuels in response to the climate crisis, such as carbon taxes, the AP reported.

Attorney General Letitia James' lawsuit claims that Exxon Mobil has kept "two sets of books" for investors, climate activist Kert Davies told BuzzFeed News. One set of figures takes into account government regulations concerning the climate, and was only used internally. The other set of figures underestimates the ways the company will be affected — and this was the set that was shared with shareholders. If true, that would mean Exxon Mobil was misleading its investors by making the company seem more valuable than it might be in a few years, the AP explained.