Page 10 - NorthAmOil Week 26 2021

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Massachusetts lawsuit alleging ExxonMobil

climate deceit to proceed

US EXXONMOBIL’S attempt to have a lawsuit seats on Texas-based ExxonMobil’s 12-member
related to climate change and brought by the board. The same day shareholders voted to tell
state of Massachusetts dismissed has been California-based rival Chevron to slash emis-
denied. The state has accused the super-major of sions, even those produced by customers who
misrepresenting the risks and impacts of climate buy its gasoline.
change to investors and customers. And at about the same time, a court in the
The lawsuit was launched in 2019 by Mas- Netherlands ordered Royal Dutch Shell to cut
sachusetts Attorney General Maura Healey. carbon dioxide (CO2) emissions sharply, by a
ExxonMobil unsuccessfully claimed that net of 45% by 2030 compared with 2019 levels – The ruling
its statements about the impact of climate that is, within just nine years. Shell is appealing
change amounted to protected speech on against the order. is important
public policy matters because they were Healey, a Democrat, welcomed the Massa-
opinions. chusetts rulings as a “significant step forward because oil
The latest ruling was given by Associate Jus- for my office’s work to hold Exxon accountable
tice Karen Green in Boston. “At this stage, the for lying to Massachusetts consumers about the companies are
Commonwealth’s allegations are sufficient to climate harms of using its fossil fuel products increasingly
state a claim that Exxon was engaged in trade or and to Massachusetts investors about the nega-
commerce when it made the allegedly deceptive tive impact of climate change on the value of its under pressure
statements to Massachusetts investors,” the judge business.”
wrote. Healey’s lawsuit alleges that ExxonMobil on the issue of
“Climate change indisputably is a topic minimised the climate impact of its fossil fuel
that has attracted government attention,” the products and its own business risk to boost its climate change.
judge continued. “It is apparent from the con- profits and investments. ExxonMobil said it was
text in which they were made that many Exxon only telling customers and shareholders about
statements referenced in the complaint are not the advantages of its products.
protected.” Following Green’s ruling, ExxonMobil said
The ruling is important because oil compa- that it is considering its legal options. “This case
nies are increasingly under pressure on the issue lacks merit and we look forward to defending the
of climate change, both in North America and company,” said ExxonMobil spokesman Casey
Europe. In late May, nominees selected by an Norton. “We are reviewing the court’s opinion
environmental activist hedge fund gained three and considering next steps.”™

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