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Article

20 Mar 2014

Author:
Diane Cardwell, New York Times

In Shift, Exxon Mobil to Report on Risks to Its Fossil Fuel Assets

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Energy companies have been under increasing pressure from shareholder activists in recent years to warn investors of the risks that stricter limits on carbon emissions would place on their business. On Thursday, a shareholder group said that...ExxonMobil became the first oil and gas producer to agree to publish that information... The Ceres campaign began last fall with a letter from shareholders representing $3 trillion in assets to 45 of the largest fossil fuel companies asking for more information about whether and how they were addressing the risks posed to their assets by changing climate policy. Two-thirds of the companies agreed to respond...After that, shareholders filed proposals at almost a dozen companies,...including Hess, Kinder Morgan and Chevron. [Also refers to steps to disclose climate risk by FirstEnergy, Peabody Energy]