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Cos. Should Review Disclosure of Climate Change Risks

Melissa Klein Aguilar | September 4, 2008

In light of a recent agreement that sets new precedents for disclosure of climate change risks, companies ought to review their current periodic reports and determine whether additional disclosure is warranted, warns an alert from the law firm Nixon Peabody.

An Aug. 27, 2008 agreement with the New York attorney general by utility Xcel Energy Inc. that requires the company to provide detailed disclosure of global climate change risks to its business is significant for two reasons, according to Bradley Kamlet, author of the Nixon Peabody alert.

The agreement—the first enforceable agreement requiring public disclosure of potential financial liabilities related to climate change—is “likely to have an impact on public company disclosure not only in...

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