WASHINGTON — Xcel Energy agreed to disclose to shareholders potential costs related to climate change, responding to demands by New York Attorney General Andrew Cuomo that energy companies better inform investors on financial risks from pollution.
Xcel, in filings with the Securities and Exchange Commission, will state the anticipated financial impact of costs for complying with climate- change-related legislation and litigation, projected increases in carbon emissions from its coal-fired power plants and strategies for limiting those emissions, Cuomo said Wednesday in a statement.
Cuomo subpoenaed executives of five energy companies for information on whether disclosures to investors in SEC filings adequately described financial risks related to their emissions of global-warming pollution.
Shareholders have filed a record 57 climate-related petitions with U.S. companies this year, according to Ceres, a group of investors and green activists.
