In the absence of federal climate legislation, it’s amazing what a little litigation can do:
One of the country’s largest builders of coal-fired power plants (Xcel Energy) will give investors detailed warnings about the risks that global warming poses to its business under a deal with New York’s attorney general. [...]
The agreement with Xcel requires the company to analyze the likely effects on its business of current and future legislation or regulations in the states and countries where it operates and to disclose that information in its investor filings with the Securities and Exchange Commission.
Under the agreement with Mr. Cuomo, Xcel will disclose the financial risks of lawsuits and of federal or state court decisions that would affect its business. The company will also analyze and disclosed the “material financial risks” to itself associated with global warming, like drought — coal plants are prodigious users of water — or rising sea levels.
Tags: climate change, coal, cuomo, global warming, xcel
