The lead plaintiff in a federal securities action against Exxon Mobil Corporation told the federal district court for the Northern District of Texas that a New York State court’s rejection of the New York attorney general’s fraud claims against Exxon should have no impact on the district court’s previous denials of Exxon’s motion to dismiss the securities action. The plaintiff argued that the claims in this action were not dependent on evidence or allegations at issue in the New York decision, that the New York decision’s factual findings did not provide a basis for finding the plaintiff’s claims in this case implausible, and that the limited evidence produced to date strongly supported the plaintiff’s claims.

Securities fraud class action against Exxon Mobil Corporation (Exxon) alleging that Exxon failed to disclose climate risks.

Ramirez v. Exxon Mobil Corp.

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Plaintiff in Securities Action Against Exxon Said Decision Against New York Attorney General Should Not Affect this Case

Filed

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Justice is the ethical and political framework that addresses fairness, including issues of responsibility, rights, and structural inequity.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

Activities of industries that extract natural resources, such as mining, oil, and gas, for commercial use.

This sector involves activities to move goods and people, alongside the storage of products.

Plaintiff in Securities Action Against Exxon Said Decision Against New York Attorney General Should Not Affect this Case

Fossil fuel

Economic sector

Finance