AUSTIN / LONDON (IT BOLTWISE) – ExxonMobil has filed a lawsuit against the US state of California. The oil and gas company is fighting new climate laws that require companies to disclose their emissions and climate-related risks. ExxonMobil argues that these laws restrict freedom of expression and place a disproportionate burden on large companies.
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ExxonMobil recently filed a lawsuit against the state of California to prevent implementation of two new climate laws. These laws, passed in 2023, aim to increase transparency regarding emissions from large companies. ExxonMobil argues that these regulations restrict the company’s freedom of expression by forcing it to disproportionately accept responsibility for climate change.
The company has filed its lawsuit in the US Eastern District Court for California, asking that the laws not go into effect. ExxonMobil emphasizes that it has been disclosing its greenhouse gas emissions and climate-related business risks for years. Yet it rejects the new reporting requirements, which it finds unfair and shameful.
Senate Bill 253 requires large companies to disclose a wide range of emissions, including direct and indirect emissions such as the cost of employee business travel and the transportation of products. ExxonMobil criticizes the methodology, which focuses on a company’s global emissions and penalizes large companies based solely on their size.
Another bill, Senate Bill 261, would require companies with annual revenue of more than $500 million to disclose the financial risks of climate change to their business and outline their plans to address those risks. ExxonMobil argues that this requires speculation about unforeseeable future developments, which would then have to be published on the company website.
A spokesman for California Gov. Gavin Newsom’s office expressed surprise at the lawsuit and said it was shocking that one of the world’s biggest polluters was pushing back against transparency measures. The dispute highlights tensions between big companies and government regulators as they seek to combat climate change through stricter regulations.
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