An unprecedented climate change lawsuit against US oil giant Exxon Mobil will be filed in New York on Tuesday October 22nd.
The New York Attorney General accuses the company of misleading investors about the potential costs of climate regulation to its business.
Exxon claims that the claims are politically motivated, and all the necessary information has long been provided to the investigating authorities.
Exxon's fraud trial will begin Tuesday and is expected to last 15 days. Former US Secretary of State Rex Tillerson, who headed Exxon for ten years, is among those who could stand trial.
"By misleading investors with higher projected costs of reducing carbon emissions than they actually are, ExxonMobil has made its assets significantly more secure than they actually were, which has had a significant impact on their share price," accusation.
Environmental activists have pushed for years for Exxon to become more transparent about how climate change has impacted its business, in part because of the hope that accurate financial risk assessments will shift funding towards more sustainable alternatives.
Analysts say the New York case is an example of the experimentation that happens when governments seek to hold companies accountable for climate change.
