Golden State Goes After Oil Giants: Lawsuit Targets Profits From Misleading On Climate Change

On Monday, California Attorney General Rob Bonta filed an amended complaint targeting major fossil fuel companies like Exxon Mobil Corporation XOM, Chevron Corporation CVX, Shell plc SHEL, BP p.l.c. BP, ConocoPhillips COP, and the American Petroleum Institute (API).

The amendment requires these companies to forfeit profits earned through illegal activities.

Related: Battleground For Oil Majors: BP Activist Investor Calls For Cut In Green Energy Pledges

The complaint, filed in San Francisco County Superior Court, also highlights recent instances of false advertising and greenwashing by the oil companies.

In September 2023, the Attorney General filed a lawsuit alleging that five major fossil fuel companies and API deceived the public about climate change.

The lawsuit claims they knew since the 1960s that burning fossil fuels would cause climate change but deliberately spread doubt about climate science in their public communications and marketing.

The current amended complaint provides ample evidence showing that these companies’ deceptive practices persist as they continue to deflect attention from their contribution to climate change.

It also pursues the disgorgement of profits under AB 1366 for their breaches of consumer protection laws.

Attorney General Bonta said, “This much is clear: Big Oil continues to mislead us with their lies and mistruths, and we won’t stand for that,”

“Their ongoing egregious misconduct is damning. We will continue to vigorously prosecute this matter and ensure that Big Oil pays to abate the harm they have caused, and we will recover ill-gotten gains that will benefit Californians.”

As per Reuters, the filing comes just days after UN Secretary-General Antonio Guterres called for a ban on fossil fuel advertising, like the bans on tobacco ads.

Read: Chevron’s Collaborates With ION Clean Energy, Marks A Milestone In Carbon Capture Advancement

Last month, Shell shareholders rejected a climate resolution proposed by an activist group during the annual general meeting, with only 18.6% support.

Related: Shell Ponders Slowing Carbon-Cut Targets Amid Energy Strategy Revamp: Report

Also, in May, U.S. District Judge Mark Pittman allowed Exxon Mobil’s lawsuit against an activist shareholder group seeking to bar their climate resolution.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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