- The New York attorney general's office, which told Peabody Energy (BTU -1.7%) this week to disclose more details about potential financial risks from climate change regulations, is now considering whether the tactic could be applied to companies beyond the energy sector, Reuters reports.
- The AG investigation found that BTU repeatedly denied in public filings it could predict how potential climate change regulations would affect its business, even though its internal studies showed revenue could fall if coal were targeted in a carbon pollution crackdown.
- The BTU settlement could prompt companies to re-examine what they define as material to shareholders, and could pressure a range of companies facing regulatory risks over policy issues from obesity to soaring drug prices, according to corporate governance experts.
- At least one other case similar to BTU is in the works in New York, where the AG office reportedly opened an inquiry into whether Exxon Mobil misled shareholders about climate change risks.