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Fw: [fuelcell-energy] Outing the climate risk

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  • P. Neuman self only
    ... From: janson2997 To: fuelcell-energy@yahoogroups.com Date: Mon, 05 Jul 2004 02:37:12 -0000 Subject: [fuelcell-energy] Outing the
    Message 1 of 1 , Jul 5, 2004
      --------- Forwarded message ----------
      From: "janson2997" <janson1997@...>
      To: fuelcell-energy@yahoogroups.com
      Date: Mon, 05 Jul 2004 02:37:12 -0000
      Subject: [fuelcell-energy] Outing the climate risk
      Message-ID: <ccaeso+h1t9@egroups.com>

      Outing the climate risk

      Shareholders compel US power giants to disclose climate risk
      assessments and action plans

      Two giant US power companies have agreed to submit detailed climate
      change reports to a committee of independent directors. They have
      committed themselves to report, publicly, both on how badly they are
      exposed to risk, and on what they plan to do to reduce their
      greenhouse gas emissions.

      The announcements, a first for the US electricity industry, represent
      a big victory for shareholder activism at American Electric Power and
      Cinergy. Both companies acceded to all the demands made in climate
      change resolutions filed with their boards of directors, by
      shareholders including church-based ethical investment funds. These
      include assessing and reporting on the impacts both of existing state
      legislation to limit carbon dioxide and other polluting emissions
      from power plants, and of proposals currently before the US Congress
      to impose federal limits.

      Denise Nappier, treasurer of Connecticut Retirement Plans and Trust
      Funds, was one of the shareholders who filed the resolutions. She
      greeted the landmark agreements as "an important milestone for
      shareholders, one that we hope will be emulated by corporate leaders
      across this industry, and across many industries", and added: "The
      consequences for companies that do not act responsibly and take steps
      to assess and mitigate risks posed by climate change can be just as
      devastating to shareholders as the corporate scandals of the past few

      The resolutions' co-filers included Christian Brothers Investment
      Services, Board of Pensions of the Evangelical Lutheran Church in
      America, The Pension Boards of the United Church of Christ, and the
      United Church Foundation. � Polly Ghazi



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