New York Attorney General Andrew Cuomo wondered whether investors in coal-burning utilities were being sufficiently well-informed about the risks of where they were parking their money. So he subpoenaed five companies for information -- Xcel Energy, the AES Corporation, Dominion, Dynegy and Peabody Energy.
Were they disclosing the full roster of financial risks -- like the cost of possible future lawsuits or higher operating costs from new regulations that put a price on carbon?
Now a year later, Cuomo has reached a disclosure deal with a first company. Xcel Energy has agreed to give its investors detailed warnings about the risks that global warming poses to its business.
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