Energy Firm to Tell Investors of Risks From Global Warming

Xcel agrees to first pact of its kind with NY AG
By Rob Quinn,  Newser Staff
Posted Aug 28, 2008 8:56 AM CDT
A coal-fired power plant rises beyond a pile of coal as it churns out electricity in this file photo in Holcomb, Kansas.    (AP Photo/Charlie Riedel, File)
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(Newser) – A major builder of coal-fired power plants has agreed to fully inform investors of the risks global warming poses to its business in a landmark deal with New York's attorney general. Green groups hope the agreement by Xcel Energy will spur other firms to follow suit, reports the New York Times.

Xcel's shareholders will be given detailed information on the risks to the company from future lawsuits over emissions, expected new regulations—and financial impacts from factors such as droughts and rising sea levels. New York authorities served subpoenas on Xcel and four other energy firms last year, seeking evidence of undisclosed risks to investors linked to plans to build new coal-fired plants.