extracts from The Edge Climate Feature on 10 August 2020
LAST August, a group of Exxon investors filed a suit against the company’s officials and board members for failing to protect their investments from the risks of climate change.
The litigants, representing a mutual fund of the Saratoga Advantage Trust, allege that the officials “knew, were reckless, or were grossly negligent in not knowing” that Exxon was misleading its investors regarding the risks of climate change to its business.
According to The Climate Docket, a non-profit news site that reports on climate liability lawsuits filed against the fossil fuel industry, the plaintiffs say that the defendants knew that Exxon’s asset valuation processes were unsound and did not accurately assess the risk climate change posed to the company.
Read the rest of the feature here: https://www.theedgemarkets.com/article/special-report-business-climate-action-now-or-never