Exxon Mobil Agrees to Share More Data on Fracking Risks

Exxon Mobil Corp, the world's largest publicly traded oil company, has agreed to disclose more information about the environmental risks of hydraulic fracturing, the process known as fracking.

In an agreement with New York City's pension funds, which control Exxon shares worth roughly $1.02 billion, the company would report on risks surrounding disposal of fracking waste water, air pollution, methane emissions from oil and natural gas wells, and other issues.

Exxon plans to compile the information and publish it as a report on its website by September.

The New York City Comptroller's office, which controls the city's pension funds, agreed as part of the deal to withdraw a shareholder proposal that would have put the disclosure issue up for a vote at the company's next annual meeting.

The comptroller's office said it essentially believes that without such information, it cannot make adequate investment decisions and thus part of the pension funds' investment could be in danger.

Exxon Mobil Agrees to Share More Data on Fracking Risks