New York attorney general claims the oil giant used "secret, internal figures" to account for impacts of climate change
ExxonMobil is being accused of using "sham" accounting to "mislead" investors about the likely financial risks posed by climate change, which New York Attorney General Eric Schneiderman said was evidence of potentially "wide-ranging fraud" executed under the direction of former CEO and current U.S. Secretary of State Rex Tillerson.
In a court filing with the New York state Supreme Court on Friday, Schneiderman's office said that the oil giant had used "secret, internal figures [that] understated the degree to which Exxon was taking into account the risks of climate change regulations." These figures "were not as conservative" as the so-called "proxy costs" that the company provided to investors.
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