ExxonMobil CEO Darren Woods describes the impact of the Middle East conflict on the global oil market on ‘Special Report.’
ExxonMobil has sued the state of California, alleging that two climate change laws infringe on the company’s right to free speech, according to multiple outlets.
The company filed the complaint in the U.S. Eastern District Court for California on Friday, claiming the new laws force it to agree with the state’s viewpoint on climate change, specifically that oil and gas corporations take particular blame, according to Bloomberg.
One of the bills requires large companies doing business with the state to disclose their greenhouse emissions each year.
The second law requires businesses doing more than $500 million with the state to write a report every other year on how climate change could affect its business.
MAJOR BUSINESS GROUP INTERVENES TO BLUNT NEWSOM LAWSUIT ATTEMPTING TO REINSTATE EV MANDATES
An ExxonMobil gas station in Los Angeles. (Eric Thayer / Los Angeles Times via Getty Images / Getty Images)
Both laws require ExxonMobil to comply with California’s Greenhouse Gas Protocol and Task Force on Climate-related Financial Disclosures, which the company reportedly claims forces it to take blame for global warming.
“ExxonMobil understands the very real risks associated with climate change and supports continued efforts to address those risks,” the company said in its filing, according to Bloomberg. “California may believe that companies that meet the statutes’ revenue thresholds are uniquely responsible for climate change; but the First Amendment categorically bars it from forcing ExxonMobil to speak in service of that misguided viewpoint.”
Both laws require ExxonMobil to comply with California’s Greenhouse Gas Protocol and Task Force on Climate-related Financial Disclosures, which the company reportedly claims forces it to take blame for global warming. (Sheldon Cooper/SOPA Images/LightRocket via Getty Images / Getty Images)
ExxonMobil was not immediately available for comment on Saturday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP. | 115.39 | -0.59 | -0.51% |
“Truly shocking that one of the biggest polluters on the planet would be opposed to transparency,” a spokesperson for California Gov. Gavin Newsom’s office told FOX Business. “These laws have already been upheld in court and we continue to have confidence in them.”
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The company also claimed in the filing that one of the state laws conflicted with a federal law that regulates what companies must disclose about climate and financial risks. (Eric Thayer / Los Angeles Times via Getty Images)
The company also claimed in the filing that one of the state laws conflicted with a federal law that regulates what companies must disclose about climate and financial risks, according to Bloomberg.
The company has asked the court to prevent the laws from going into effect in 2026.
