Exxon Mobil is suing California over two state laws that require disclosing greenhouse gas emissions and climate-related financial risks. The oil giant argues it violates First Amendment rights and forces adoption of misleading frameworks. California, known for strict environmental rules, passed the laws in 2023, supported by companies like Apple and Microsoft but opposed by major groups.

One law, SB 253, mandates companies with over $1 billion in revenue to publish carbon emissions reports starting in 2026. Another, SB 261, requires disclosure of climate-related financial risks for companies with over $500 million in revenue. Exxon claims SB 261 conflicts with existing federal securities laws regulating disclosures for publicly traded companies.

Exxon believes the California laws infringe on its rights and are misleading. The state, known for its strict environmental regulations, passed the laws in 2023 with support from companies like Apple and Microsoft. Exxon argues that it already reports voluntarily and opposes California’s frameworks for reporting.

Read more at Yahoo Finance: Exxon sues California over climate disclosure laws