The oil company filed a lawsuit against the state Friday over two laws, passed in 2023, that require companies doing business in California to disclose carbon emissions and climate-related financial risks, with penalties if they don’t comply. Exxon claims that the laws, known as the California Climate Accountability Package, would force the company to “serve as a mouthpiece for ideas with which it disagrees.”
The laws, which will be enforced beginning next year, “have already been upheld in court and we continue to have confidence in them,” Gallegos added.
Right now, Exxon uses a methodology to calculate its emissions developed by an oil and gas industry group, but would have to change to the Greenhouse Gas Protocol, developed by the research group World Resources Institute and business network World Business Council for Sustainable Development.
Exxon is also fighting against a provision in one law that requires companies to disclose how climate change threatens their business operations and what they plan to do about it. Exxon claims the law requires speculation “about unknowable future developments” and conflicts with securities laws.
The oil company is trying to dodge transparency about its operations, perhaps concerned about how bad these disclosures would make the company look. They may also be hoping for the law to be struck down by conservative judges, or even the Supreme Court. President Trump is loudly dismissive of climate change and the threats it poses, and may take further action against California on his own.
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