ExxonMobil Corp. "could put at risk more than $100 billion in long-term shareholder value through liability for environmental-related damages and litigation costs, according to a study released today by Claros Consulting. Robert A.G. Monks, shareholder activist, and two other groups commissioned the study. Because of the companys attitude on the issue, "ExxonMobil trades needlessly at a discount, Mr. Monks said in a teleconference. The study suggests potential costs of mandatory emissions control policies for ExxonMobil, if it acts soon, could be "as little as $2 billion less than 1% of market capitalization.
ExxonMobil representatives couldnt be reached for comment by press time.