Two environmental groups and the financial officers of 10 states and New York City are asking the Securities and Exchange Commission to require companies to disclose the risks that climate change may pose to their bottom lines. The petition is expected to reach the S.E.C. today, representatives of the groups said.
The action by Ceres, a coalition of environmental activists and investors, along with Environmental Defense and investors managing $1.5 trillion in assets is the second in recent days to focus attention on the potential impact on Wall Street of climate change.
On Friday, Attorney General Andrew M. Cuomo of New York started an investigation of five energy companies to determine if they had adequately disclosed any financial risk they might face from their ownership stake or operations of coal-fired power plants. Scientists believe that carbon dioxide, the main emission from these plants, is a leading cause of recent global warming.
See full Article.
Posts
