Congress members ask SEC to further investigate ExxonMobil filings with federal agencies.
According to the request from the four Congress members, ExxonMobil’s past filings could indicate that securities laws have been violated. The base of the violations would be the failure to disclose risks associated with climate change.
The Securities and Exchange Commission (SEC) received the request on Friday. The letter signed by members in the House Oversight and Government Reform Committee, with leader Ted Lieu (Democrat, California) brings into attention the investigations from The Los Angeles Times and InsideClimateNews. Both investigative series look at ExxonMobil’s climate change research dating back to the 1970s.
Articles published by both investigations cite evidence that the management of the company had knowledge of fossil fuels burning accelerating global warming even in the early decades of climate science.
Eversince, the company has backtracked any attempt to raise public awareness on what has now become accelerated climate change. At the same time, industry leaders and ExxonMobil have been involved in numerous attempts to lobby against greenhouse gas emissions regulations or any environmental and sustainability regulations whatsoever.
The Congressmen signing the letter aren’t alone in making requests to the SEC. A handful of other actors are joining a chorus of activists, lawmakers and politicians asking for an inquiry in federal filings explaining the company’s handling of climate change. House Members, as well as Senate members have also requested that ExxonMobil is subject to the Department of Justice investigation.
Democrats Bernie Sanders, Martin O’Malley and Hillary Clinton have been repeatedly asking for this investigation. Another 50 groups focused on environmental issues have been mounting a campaign pressing for the investigation.
The letter sent to the SEC is signed by Democrat leader Ted Lieu in addition to Peter Welch (Vermont), Mark DeSaulnier (California), Matthew Cartwright (Pennsylvania). It was also DeSaulnier and Lieu who wrote to Attorney General Loretta Lynch about the need for an investigation in ExxonMobil sustained efforts to deny climate change.
Photo Credits: geograph.org.uk