"Under Investor Pressure, Utility to Study Emissions"

"FirstEnergy, one of the country’s largest electric companies, has agreed to work toward reducing its carbon emissions in response to pressure from shareholders including New York State and Connecticut pension funds, New York Comptroller Thomas P. DiNapoli said on Tuesday."

"The company, which operates in six states, including Ohio, Pennsylvania and New Jersey, promised to study and report on what it could do to help meet President Obama’s goal of reducing carbon emissions by 80 percent by 2050. As a result, Mr. DiNapoli, the State of Connecticut and As You Sow, a shareholder advocacy group, agreed to withdraw a shareholder resolution they had filed for First Energy’s annual meeting this year.

Mr. DiNapoli said the decision could speed the adoption of agreements for environmental planning at other energy companies."

Diane Cardwell reports for the New York Times January 14, 2014.

Source: NY Times, 01/15/2014