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The
oil and gas corporation based in Texas filed its complaint
Friday in the U.S. Eastern District Court for California. It
asks the court to prevent the laws from going into effect next
year.
In its complaint, ExxonMobil says it has for years publicly
disclosed its greenhouse gas emissions and climate-related
business risks, but it fundamentally disagrees with the state’s
new reporting requirements.
The company would have to use “frameworks that place
disproportionate blame on large companies like ExxonMobil" for
the purpose of shaming such companies, the complaint states.
Under Senate Bill 253, large businesses will have to disclose a
wide range of planet-warming emissions, including both direct
and indirect emissions such as the costs of employee business
travel and product transport.
ExxonMobil takes issue with the methodology required by the
state, which would focus on a company's emissions worldwide and
therefore fault businesses just for being large as opposed to
being efficient, the complaint states.
The second law, Senate Bill 261, requires companies making more
than $500 million annually to disclose the financial risks that
climate change poses to their businesses and how they plan to
address them.
The company said in its complaint that the law would require it
to speculate “about unknowable future developments” and post
such speculations on its website.
A spokesperson for the office of California Gov. Gavin Newsom
said in an email that it was “truly shocking that one of the
biggest polluters on the planet would be opposed to
transparency."
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