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The New York attorney general has begun an investigation of Exxon Mobil to determine whether the company lied to the public about the risks of climate change or to investors about how such risks might hurt the oil business, The New York Times reported with reference to informed sources.
According to people with knowledge of the matter, Attorney General Eric T. Schneiderman issued a subpoena Wednesday evening to Exxon Mobil, demanding to provide financial records, emails and other documents. The investigation is looking to find whether statements the company made to investors about climate risks as recently as this year were consistent with the company's own long-running scientific research.
Kenneth P. Cohen, vice president for public affairs at Exxon Mobil, said the company had received the subpoena and was still deciding how to respond.
"We unequivocally reject the allegations that Exxon Mobil has suppressed climate change research," Cohen said, adding that the company had funded mainstream climate science since the 1970s, and had published dozens of scientific papers on the topic. Cohen also said the company had disclosed climate risks to investors.
It is noted that the Exxon inquiry might expand further to encompass other oil companies, according to the people with knowledge of the case, though no additional subpoenas have been issued to date.
A source from Reuters also confirmed the beginning of the investigation against Exxon Mobil company.
Earlier, the U.S. authorities have launched an investigation against German auto maker Volkswagen. The United States Environmental Protection Agency announced Volkswagen's diesel engine software was intentionally programmed to circumvent U.S. emissions tests. The automaker faces a fine of $18 billion.