Coal-power producer will disclose climate-change risks to shareholders
Coal power could be a risky investment — according to none other than giant coal-power producer Dynegy Inc. After being subpoenaed by New York Attorney General Andrew Cuomo last year, Dynegy agreed Thursday to be forthcoming to shareholders about the risks that climate change could pose to their investment. Said Cuomo in announcing the deal, “You have to disclose the facts to the public. It’s not just good public policy, it’s the law.” (Did anyone else note that barely suppressed “booyah”?) Dynegy owns power plants in 13 states and is one of the largest consumers of coal in the U.S. Under the agreement, it will analyze how business could be impacted by climate-related regulation and litigation — not to mention climate change itself — and explain what it plans to do about it all. Cuomo reached a similar agreement with Xcel Energy in August, and is pressuring three other energy companies to fess up as well.