August 28, 2008 07:18
Xcel Energy, the nation’s fifth largest emitter of greenhouse gases (GHGs), signed an agreement this week with New York Attorney General Andrew M. Cuomo that requires the company to disclose the financial risks that climate change poses to its investors. The agreement, called an "Assurance of Discontinuance Pursuant to Executive Law § 63(15) (the "Agreement")," follows Cuomo’s issuance of subpoenas to various energy companies in September, 2007, in which New York sought greater investor disclosure of climate change risks. The subpoenas were issued pursuant to New York State’s Martin Act, a ...
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