Businesses Seek Federal Action On Climate Change

Law360, New York (March 20, 2007, 12:00 AM EDT) -- Dozens of institutional investors that manage a combined $4 trillion in assets asked U.S. lawmakers on Monday to enact legislation that would reduce greenhouse gas emissions 60-90% by 2050 and make companies file climate change reports with the Securities and Exchange Commission.

Included among the statement’s 65 signers were investors Merrill Lynch & Co. Inc., Allianz SE and the California Public Employees Retirement System, companies BP America, DuPont, Alcoa, Sun Microsystems Inc. and National Grid Plc., and numerous state treasurers and comptrollers.

“Investors and companies are...
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