Policy: Environment & Energy

New York comptroller Thomas DiNapoli pulls FirstEnergy shareholder proposal

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Associated Press,New York,Energy and Environment,Air Pollution,Greenhouse Gases

ALBANY, N.Y. — New York Comptroller Thomas DiNapoli has withdrawn a shareholder proposal at FirstEnergy with the utility agreeing to report on its plans to reduce greenhouse gas emissions.

The shareholder proposal by New York's $160 billion retirement fund for public workers and some other investors called on the company to prepare a report on policies it could soon adopt to reduce emissions.

The Ohio-based energy producer was also asked to consider innovative technologies for energy generation.

In a letter, FirstEnergy says it intends to report by Oct. 1 on its website its steps in connection with President Obama's goal of an 80 percent reduction in greenhouse gas emissions.

It promises to examine reductions in CO2 emissions, reviewing the age and life of its fossil fuel-burning power plants and the effect of carbon pollution regulation on the company.

Since 2010, DiNapoli has reached agreements with 12 companies to examine ways to reduce corporate climate impacts.

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