Today, Congressman Ted W. Lieu (D | Los Angeles County) issued the following statement in light of the U.S. Securities and Exchange Commission (SEC) ordering ExxonMobil to include a resolution on its annual shareholder proxy that would force the company to outline for investors how its profitability may be affected by climate change and the legislation that aims to combat it.
Congressman Lieu has been the leading voice in Congress requesting the SEC and the Department of Justice investigate ExxonMobil’s deceptive actions on climate science.
“I am pleased that the Securities and Exchange Commission has heeded my request to ensure that ExxonMobil is following the law as it relates to disclosure of climate change information to its shareholders. Troubling reports have come to light showing that ExxonMobil confirmed the science of climate change as early as the 1970s, yet spent decades publically engaged in a campaign of denial and deception. ExxonMobil has a duty to its shareholders not to obscure the truth behind climate change.”