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American Electric Power, Cinergy Agree To Report To Shareholders On Responses To Rising Pressure To Reduce Greenhouse Gas, Other Emissions
Jan 27, 2011
In response to shareholder proposals for greater transparency on how companies are planning for potential constraints on carbon dioxide and other emissions, electric power giants American Electric Power and Cinergy have agreed to report publicly about on how they are responding to growing pressure to reduce greenhouse gas and other emissions. The company reports will assess the impacts of and potential responses to a number of policy scenarios, including various proposals in Congress and existing state legislation to limit carbon dioxide and other emissions. Both companies agreed to the shareholders' request that a committee of independent directors oversee the report. As a result, shareholders will withdraw resolutions facing the two companies.
In Follow-Up to Investor Summit on Climate Risk, California Treasurer Launches Environmental Disclosure and Investment Initiative
Jan 27, 2011
California State Treasurer Phil Angelides today launched a landmark initiative to use CA pension funds' clout and considerable assets to demand more disclosure of climate- and other environmental risks from portfolio companies and invest in clean energy technologies to encourage job creation and economic growth in California. He cited the Ceres-led Investor Summit on Climate Risk, held at the United Nations in November, 2003, as part of the impetus for the announcement.