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Article: Exxon Mobil Corp.'s Lax Approach to Global Warming Could Cost Its Shareholders.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 3, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Charlene Oldham, The Dallas Morning News Knight Ridder/Tribune Business News
May 3--Exxon Mobil Corp.'s casual attitude toward global warming is putting its shareholders at risk, according to a report released Thursday.
The Irving-based oil giant's approach to climate change could jeopardize more than $100 billion in long-term shareholder value as its policies damage the Exxon Mobil brand, make it harder to recruit and retain staff, and close some doors in Washington.
Legal fees related to climate change could cost the company as much as $1 billion a year. And if Exxon Mobil is found liable for damages, the number would rise exponentially, ...