Wednesday, April 13, 2005

US Power Companies Should Urgently Address Climate Risk

United States power companies will face significant global-warming related financial risks if they fail to reduce their emissions, according to a new report released today by CERES, a coalition of 85 investors and environmental groups.
The report analyzes climate risks reports that three of the country's largest power companies - American Electric Power, Cinergy and TXU - prepared at the request of investors. These three companies collectively emit over 250 million tons of greenhouse gases every year.
Despite these warnings, US companies are planning to build 100 new coal-fired stations in the coming years. These investments are set to become liabilities when the US will regulate greenhouse gases in the future, which CERES said is "widely expected".
The report was released at CERES's annual conference, which started today in Boston.

  • CERES website