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Power Company To Warn Investors On Business Risks Posed By Coal

Dynegy Inc., a major owner of coal-burning power plants, has agreed to divulge to investors the risks of global warming, an unnatural process fueled in part by coal power.

New York Attorney General Andrew Cuomo has announced that the Dynegy energy company agreed to include detailed information in its financial reports about business risks posed by climate change and the future of a carbon economy.

Relevant business risks may include educating investors about potential government regulations that would limit coal emissions, or divulgence that the company could be sued over pollution levels that contribute to global warming, according to a press release.

“We're going to continue doing what we're doing,” said Dynegy spokesman David Byford. “To the extent that we identify material risks related to climate change, we'll disclose them as we do other material risks.”

This summer, Xcel Energy Inc. made a similar pledge to New York’s attorney general, who has urged other power companies to follow the example of Dynegy and Xcel.

Former Vice President Al Gore was in New York alongside Attorney General Cuomo for the announcement, calling the disclosure requirement “a new model to combat global warming.”

 


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