First Energy Corp., one of the largest electric utilities in the US, has agreed to make certain climate disclosures in exchange for Steve Milloy withdrawing his climate disclosure-related shareholder proposal.
Milloy’s shareholder proposal requested that First Energy disclose to shareholders the costs and benefits of its voluntary emissions cuts.
The agreement between Milloy and First Energy begins on May 31, 2021 and covers the next three years.
It requires that First Energy disclose on its web site its annual emissions as a percentage of global emissions.
“I applaud First Energy for being the first company in the world to agree to present its emissions in the larger context of global emissions,” Milloy said.
“This is an important first step in getting companies to discuss honestly the insignificance of their emissions cuts,” Milloy added.
For more on this topic, read Milloy’s petition to the U.S. Securities and Exchange Commission requesting action to stop corporate lying on climate.