Utility Co. To Disclose Global Warming Risks To Investors

One of the country’s largest builders of coal-fired power
plants will now divulge detailed warnings about global warming risks to
investors under a deal with New York’s attorney general, the New York
Times reports.

The recent agreement between Andrew M. Cuomo, and Xcel
Energy Inc. of Minneapolis, is the first of its kind in the United States. Among
utility companies, Xcel is one of the largest producers of greenhouse gases, and
also a major provider of wind energy.

"This landmark agreement
sets a new industry-wide precedent that will force companies to disclose the
true financial risks that climate change poses to their investors," Cuomo said
in a statement. "Coal-fired power plants can significantly contribute to global
warming, and investors have the right to know all the associated
risks."

Last year, Cuomo sought to
determine whether Xcel’s efforts to build new coal-fired power plants  

Under the agreement with
Mr. Cuomo, the utility company will analyze and disclose the "material financial
risks" associated with global warming, like drought or rising sea
levels.