Tillerson: Exxon aimed to know, not lowball, climate effects
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October 31, 2019
NEW YORK (AP) — As Exxon faced the prospect of new climate regulations, the energy giant set out to understand — not understate — how they would affect the bottom line, former CEO and ex-Secretary of State Rex Tillerson told a court Wednesday.
Exxon set up a system for gauging climate risks and costs that was "as robust as we could make it at the time, and continued to try to improve it," Tillerson testified in a lawsuit in which the company is accused of duping investors about the potential costs.
"We knew it was a real issue," he said. "We tried to understand how this was going to affect eve...
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