Climate Changed
California Critic Cites Climate Hypocrisy, Urges SEC Probe
- Cities failed to warn investors of threat from rising seas
- Officials cite climate risk in suits but not bond offerings
Photographer: Joshua Roberts/Bloomberg
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California officials are downplaying the risks of climate change to bond investors while citing those same risks as the basis for a lawsuit against oil companies, according to a conservative think tank that has asked securities regulators to investigate.
The Washington-based Competitive Enterprise Institute sent a letter to the Securities and Exchange Commission, urging it to investigate a group of cities and counties in California for making contradictory claims about climate risks.