WATWB

We Are the World Blogfest

Okay, I’m a lawyer (don’t hold that against me) and an environmentalist, so this month’s entry for #WATWB is about the New York Attorney General’s office and their lawsuit against Exxon Mobile for fraudulently advising investors about the risks of climate change regulation and the methods by which Exxon was preparing for it.  Hmmm, a story about a lawsuit doesn’t sound so feel good happy, you say?  Well, read on.

According to the New York Times (fake news in some circles, but in my humble opinion, a newspaper with the highest, most reputable journalistic standards in the world) article, the lawsuit alleges that:  “[Exxon Mobile] engaged in a “longstanding fraudulent scheme” to deceive investors, analysts and underwriters “concerning the company’s management of the risks posed to its business by climate change regulation.”   In essence, Exxon did a little dance with the books, i.e., two sets, one with the projected real-time costs of climate change on the company’s bottom line, and another that it trotted out to investors.  According to the New York Attorney General, the differences were significant.

By focusing on the company’s misleading information given to investors regarding the cost — ultimately to them — of climate change, rather than focusing on any number of environmental laws that may or may not have required Exxon to do something to help curb climate change, the Attorney General was able to use a century old securities law to assist in the fight rather than try to push something through the quagmire of current environmental policy that is as politically charged as a lightning rod and not at all likely to carry the day.

Sheer brilliance.  And the lawsuit involves attorneys general from other states, too.  This is the kind of checks and balances on power that the framers of the Constitution intended.  The wheels of justice do turn slowly, but they turn.  And the possible side-effect of slowing down the rate at which climate change could eventually change the face of the planet as we know it should make us all happy, too.

pjlazos 10.36.18

Once again, here are the guidelines for #WATWB

1. Keep your post to Below 500 words, as much as possible.

2. Link to a human news story on your blog, one that shows love, humanity, and brotherhood. Paste in an excerpt and tell us why it touched you. The Link is important, because it actually makes us look through news to find the positive ones to post.

3. No story is too big or small, as long as it Goes Beyond religion and politics, into the core of humanity.

4. Place the WE ARE THE WORLD badge or banner on your Post and your Sidebar. Some of you have already done so, this is just a gentle reminder for the others.

5. Help us spread the word on social media. Feel free to tweet, share using the #WATWB hastag to help us trend!

Tweets, Facebook shares, Pins, Instagram, G+ shares using the #WATWB hashtag through the month most welcome. We’ll try and follow and share all those who post on the #WATWB hashtag, and we encourage you to do the same.

Want to join #WATWB? Then click here to enter your link and join us and spread the joy!

This month’s cohosts are:  Eric Lahti, Inderpreet Uppal, Shilpa Garg, Mary Giese and Roshan Radhakrishnan

And once you’ve written your posts, please link them here:  https://www.facebook.com/1340888285958297/posts/1956422147738238/

Thank you!

 

About pjlazos

writer, blogger, environmentally hopeful
This entry was posted in #WATWB, fraudulent scheme, happy news, Uncategorized and tagged , , , , , , , , , . Bookmark the permalink.

37 Responses to WATWB

  1. ericlahti says:

    It is so unfortunate that the world is at a point where the rising ocean levels, melting polar caps, and general environmental unpredictability is completely ignored in favor of some political mumbo-jumbo, but at least clever people are finding ways around the quagmire to go after the folks causing the problems in the first place.

    Liked by 1 person

  2. lindasschaub says:

    Hi Pam – I’ve heard this World Wildlife Federation story several times today – it’s so disheartening. I’m sure you’ve heard the stats as well. The video will make you feel very sad. Time is slipping away to take care of our natural resources. https://www.cnn.com/2018/10/29/health/wwf-wildlife-population-report-intl/index.html

    Liked by 1 person

  3. Ally Bean says:

    I like this story and feel it’s a happy one. I didn’t know any of this, but after reading about it I’m glad that someone out there is turning the wheels of justice on behalf of Mother Earth. Most interesting.

    Liked by 1 person

  4. hilarymb says:

    Hi Pam – this was great to read … and also good re your comment about the NYT – we do really need to encourage our professional journalists to keep probing and clarifying situations. So pleased for you and the lawyers … cheers Hilary

    Liked by 2 people

  5. Following the money always seems like a good way to get these guys. And fracking in the Catskills is a scary thought! Thanks for sharing your legal expertise explaining this to us!

    Liked by 2 people

  6. Shilpa Garg says:

    Wow! That’s an impressive and an inspiring victory of truth and justice! Thanks for sharing about it, Pam!

    Liked by 1 person

  7. Susan Scott says:

    We have ongoing legal battles here in SA where big mining firms from here and abroad want to use land where people live sustainably. Many times public protest and smart lawyers win the day. Great on Exxon being trumped by the NY Attorney General’s office – brilliant as you say!

    Liked by 1 person

    • pjlazos says:

      Hi Susan. New York has been a friend to the environment for years, banning fracking to protect the pristine water that comes down from the Catskills which are 125 miles north of the city, something fracking could really ruin for NYC because of all the chemicals it uses that could get in the water supply. I think corporations should be held to the same standards as the rest of us. You certainly wouldn’t buy a yacht if your household budget can only afford a little outboard motor. The mining companies here blow the tops off of mountains to get at the coal seams below, disregarding the damage to streams, watersheds and the natural beauty of the area. Yes, we need energy, but there are so many less intrusive forms like wind, solar, and trash to oil! I wrote a whole novel about it — Oil and Water — and it’s real technology. Imagine if we really doubled down on the research. We could use last night’s dinner to power our commute to work. The point is, the people in power have stopped thinking progressively. They have their money and their dammed determined to keep it, even if it means the rest of the world burns. We need younger, brighter minds making the laws now because our politicians haven’t kept pace with technology and it’s hurting everyone. Wow, a Saturday morning rant and it’s note even 8 a.m.! Have a nice day.

      Liked by 1 person

  8. Huzzah! So often the ConGlomCo groups are able to plow over findings that require they, you know, CHANGE. Happy to see them called out before they could force another silence!

    Liked by 1 person

  9. Pawtacular!

    💜 nose nudges 💜

    Liked by 1 person

  10. JoAnna says:

    “The wheels of justice do turn slowly, but they turn.” I’m hoping this good news will encourage others to persist in holding big businesses accountable to the truth. Thank you for sharing it!

    Like

  11. Ken Dowell says:

    Could we also sue Trump’s EPA for fraudulently advising about the risks of climate change?

    Liked by 2 people

  12. Inderpreet says:

    Wow! Taking on a giant like Exxon is truly commendable. Good news indeed for climate change.
    Thank you so much! In Darkness, Be Light. Team #WATWB
    *Inderpreet/EloquentArticulation*

    Liked by 1 person

  13. KDKH says:

    I love a good legal victory!!! It’s a place where we can use good news right now. Thank you.!

    Liked by 2 people

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