NY probes ExxonMobil over climate change risk claims ExxonMobil is being investigated by the New York state attorney-general over whether it misled…

NY probes ExxonMobil over climate change risk claims ExxonMobil is being investigated by the New York state attorney-general over whether it misled investors and the public about climate change risks and how it could affect the company

Attorney-general Eric Schneiderman sent a subpoena to the company on Wednesday requesting emails, financial records and other documents, said people familiar with the case

The broad probe captures company activities starting from the 1970s until this year, and includes occasions when ExxonMobil funded groups that criticised research in support of climate change

Mr Schneiderman’s office is inquiring into whether ExxonMobil made adequate disclosures to investors about the risks related to the push to limit the use of fossil fuels. The agency is also examining the company’s climate change impact disclosures to the US Securities and Exchange Commission

The SEC declined to comment on whether it was investigating ExxonMobil over disclosures to investors

Mr Schneiderman’s office is also examining ExxonMobil for consumer fraud and has asked the company for materials related to marketing, advertising and communications regarding climate change, people familiar with the case said

ExxonMobil confirmed it had received a subpoena and was assessing its response. The company also said it has included information about the business risk of climate change for many years in its securities filings, Corporate Citizenship Report, and in other reports to shareholders

Ken Cohen, vice-president of public and government affairs, told a media conference call that the company began making disclosures about climate risks in 2007. At that time, it also began calculating the affect of a price on carbon to include in its cost planning for major projects, he said