New York Attorney General Andrew Cuomo has entered into another settlement requiring a company to include information on climate change risks in its annual financial reports. On November 19, 2009, the Attorney General announced a settlement with AES Corporation. Under the settlement, AES is required to disclose “timely and relevant information to investors about financial risks associated with the production of global warming pollution.” This is the third agreement the New York Attorney General has entered related to climate change financial disclosures. Under these agreements, the companies are required to disclose material risks associated with climate change in their annual Form 10K disclosure to the SEC.
More information on the settlement can be found here.