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September 19, 2007

ME wants public cos. to disclose climate risks

Maine State Treasurer David Lamoine and treasurers from seven other states yesterday urged the federal government to require publicly traded companies to disclose risks climate change poses to their bottom lines.

Lamoine and state treasurers from California, Vermont, Rhode Island, Oregon, Maryland, North Carolina and Kentucky filed a petition Tuesday with the U.S. Securities and Exchange Commission to require public companies to assess and disclose financial risks from climate change including risks to infrastructure, financial concerns related to greenhouse gas regulation and legal issues related to climate change, according to the Bangor Daily News.

The coalition says climate change risk disclosures are similar to other types of risk disclosure requirements public companies must file with the SEC, the paper reported.

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