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illuminem summarizes for you the essential news of the day. Read the full piece on POLITICO or enjoy below:
🗞️ Driving the news: A Puerto Rico magistrate judge ruled that municipalities suing fossil fuel companies under the Racketeer Influenced and Corrupt Organizations (RICO) Act should proceed to court
• The lawsuit alleges the oil and gas industry engaged in deceptive practices that worsened climate-related disasters
• The case, originally filed in 2022, seeks compensation for damages from the devastating 2017 hurricane season
🔭 The context: This is one of the first climate lawsuits invoking RICO, a law typically used to prosecute organized crime
• The plaintiffs argue that fossil fuel companies misled the public about climate risks while contributing to extreme weather events
• The judge recommended dropping some claims but upheld the core racketeering and antitrust allegations
🌍 Why it matters for the planet: If successful, this lawsuit could set a precedent for holding fossil fuel companies accountable for climate change-related damages (see sustainability performance of companies like Equinor, Enel Group and Chevron)
• It highlights the growing legal pressure on industries accused of fueling environmental destruction
• A ruling in favor of Puerto Rico could inspire similar cases worldwide
⏭️ What's next: The U.S. District Court for Puerto Rico will review the magistrate’s recommendation
• If upheld, the case will move forward, potentially forcing oil companies to face trial
• A victory for Puerto Rico could encourage other climate-vulnerable regions to pursue legal action
💬 One quote: “I find that plaintiffs have sufficiently alleged that defendants engaged in a continued pattern of unlawful acts or omissions which cause foreseeable damages.” – Magistrate Judge Héctor Ramos-Vega
📈 One stat: More than three dozen Puerto Rico municipalities are suing fossil fuel companies for damages linked to climate change
See here detailed sustainability performance of Equinor, Enel Group and Chevron
Click for more news covering the latest on oil & gas and public governance
