XOM Exxon Mobil Corp

By Lynn Cook 

Exxon Mobil Corp. has received a subpoena from the New York attorney general's office seeking information about the company's research on and response to climate change over several decades, the company said Thursday.

The investigation was confirmed by New York Attorney General Eric Schneiderman's office, which declined further comment. The probe is focused on potential consumer and securities fraud stemming from Exxon's public statements on global warming.

The company is weighing how to respond, according to spokesman Alan Jeffers, who said Exxon has long disclosed information about the business risk of climate change in its reports to shareholders and regulators. The company is among the largest oil and gas producers in the world.

"We unequivocally reject allegations that Exxon Mobil suppressed climate change research contained in media reports that are inaccurate distortions of Exxon Mobil's nearly 40-year history of climate research, " Mr. Jeffers said in an emailed statement.

InsideClimate News, a nonprofit journalism organization that specializes in environmental and energy coverage, and other news media have published reports since September detailing Exxon's early research on global warming in the 1970s and noting that the company later supported groups trying to raise questions about climate science.

In recent years, Exxon has said the risks of climate change are real and should be addressed, though its executives have suggested that technology rather than government regulations would work best.

The subpoena was first reported by the New York Times.

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(END) Dow Jones Newswires

November 05, 2015 17:13 ET (22:13 GMT)

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