Exxon’s 10-K fails to acknowledge climate litigation risk, adds new section on reputational risk

This week, Exxon Mobil (XOM) released its 2017 10-K report. While news of Exxon abandoning joint projects with Rosneft — and the corresponding $200 million after-tax loss — ┬ádominated the headlines, two overlooked items may bear serious consequences for the company. Exxon failed to acknowledge the serious risks posed by ongoing climate litigation and investigations. …