On Wednesday, New York Attorney General Barbara Underwood announced a lawsuit against ExxonMobil over allegations that the multinational oil and gas company defrauded and misled investors about the effect that climate change would have on its share values. Advertisement In particular, the AG office focused on ExxonMobil’s claims that it was anticipating more stringent regulations on carbon emissions and factoring in “proxy costs” as a way to account for expected future losses.

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