In Major Blow to Crusading State AGs, SEC Drops #ExxonKnew Investigation
August hasn’t gone so well for #ExxonKnew activists. If the New York Times Magazine’s stunning debunk of their entire campaign wasn’t enough, a coalition of 12 attorneys general filed a brief supporting ExxonMobil in its lawsuit against the attorneys general of Massachusetts and New York, who are investigating the company over its communications on climate change. To top it all off, the U.S. Securities and Exchange Commission (SEC) recently announced that after examining 4.2 million Exxon documents it is halting its investigation of ExxonMobil’s climate financial disclosures.
In a letter, the SEC director Shamoil Shipchandler explained that “[b]ased on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Exxon.” As Benjamin Hulac of E&E News put it, the “closure of the SEC probe marks a significant victory for the company.”
See what this means for the two remaining #ExxonKnew investigations at EID Climate.