Investors seek climate change plans from 43 power companies

Washington (Platts)--12Jul2005

A group of state treasurers, pension fund managers and investment funds
concerned about climate risk are seeking information from 43 electric power
companies on their plans to address climate change. 

Organized under Ceres, a coalition of large institutional investors and
environmental groups, the investment group asked the energy companies to
disclose a report on their current and future greenhouse gas emissions, to
outline actions they are taking to control their emissions and tackle climate
change, and to quantify the impact of greenhouse gas regulations on the
company and its shareholder value. Ceres said it will convene a group of
investors and industry and environmental officials in the fall to release
recommendations for "best practices in disclosure and financial management of
climate risk in the electricity sector" and share the information with Wall
Street firms.

American Electric Power, TXU, Cinergy, and Southern prepared such reports last
year and will not receive letters, according to Ceres. FirstEnergy, Progress
Energy and DTE Energy have promised to submit similar reports this year and
also will not get the letters, the group said. 

The letters were signed by California State Treasurer Phil Angelides,
California State Treasurer Steve Westly, Connecticut State Treasurer Denise
Nappier, New York City Comptroller William Thompson along with executives from
the International Brotherhood of Teamsters, the Presbyterian Church (USA) and
the United Methodist Church and others.

For more information about climate risk, take a trial to Platts Emissions
Daily at
http://www.platts.com/Electric%20Power/Newsletters%20&%20Reports/Emissions%20
Daily/.