Oil Majors Face Lawsuits on Climate Change Issues
Two major Californian cities — San Francisco and Oakland — have filed lawsuits against five oil and energy super majors September, according to Zacks Equity Research.
The cities have taken legal action against Chevron Corp., ConocoPhillips, Royal Dutch Shell plc, ExxonMobil Corp. and BP p.l.c.
“The companies have been accused of causing an adverse impact on the climate, resulting in global warming. The plaintiffs hold these fossil fuel companies accountable for rising sea levels, changing landscapes, higher global temperatures and increased risk of storms and droughts,” Zacks reports.
The plaintiffs allege that the defendants continue to produce and market products that contribute to climate change and rising sea levels.