Exxon Mobil, one of the largest oil and gas companies in the world, has once again found itself in the midst of controversy, as activist investors voice their concerns over the company's latest move to bypass a US regulator in an ongoing climate change lawsuit. This decision has raised eyebrows and led to questions about the company's commitment to addressing the pressing issue of climate change.
The backdrop of this story can be traced back to 2019 when the New York Attorney General's office filed a lawsuit against Exxon Mobil, accusing the company of misleading investors about its approach to climate change and its potential impact on the company's financial stability. The lawsuit highlighted alleged discrepancies between the company's internal calculations and the information provided to shareholders, thus potentially undermining the investors' ability to make informed decisions.
