- In today’s CEO Daily: How CEOs should think about climate risks
- The big leadership story: Meet the Fortune Future 120
- The markets: Mostly up globally as oil falls
- Plus: All the news and watercooler chat from Fortune .
Good morning. The Supreme Court kicked off its new term yesterday with a case that could determine whether state and local governments can hold companies responsible for the costs associated with climate change. The question being debated in Suncor Energy (U.S.A.), Inc. v. County Commissioners of Boulder County, in which Boulder is suing ExxonMobil and Calgary-based Suncor for allegedly misrepresenting the dangers associated with their products: Does federal law prevent the states from using their own statutes to sue oil companies for global climate damage? Justice Samuel Alito recused himself from the case, perhaps because watchdog group Court Accountability found he made up to $2.9 million from his holdings in oil and gas companies between 2005 and 2024 and still owns such stocks. The outcome could affect everything from oil-and-gas profits to the IPO ambitions of AI giants like Anthropic. But the bigger question for CEOs isn’t the legal one; it’s the cost of doing nothing.
