ST. LOUIS, Nov. 9, 2015 /PRNewswire/ -- Peabody Energy (NYSE: BTU) announced today that it has reached a resolution with the New York Attorney General's (NYAG) office regarding the company's disclosures involving climate change.
Following an extensive eight-year investigation initially discussed in the company's 2007 disclosures, Peabody has agreed to amend its disclosures. There is no other action associated with this settlement, no admission or denial of wrongdoing and no financial penalty. The company has always sought to make appropriate disclosures. Subsequent disclosures evolve over time, and the most recent disclosures planned for the company's third quarter 2015 Form 10-Q address the matters raised by the New York Attorney General.
Through the agreement, the company agreed to modifications in its financial disclosures centering around two primary areas:
Moving forward, Peabody believes that technology is the bridge to a low-emissions future for a world experiencing rising electricity demand to satisfy urbanization and offer a higher quality of life. Peabody has been among the most vocal companies worldwide in advocating clean coal technologies, including greater deployment of high-efficiency low-emissions coal-fueled plants and development of next-generation carbon capture, use and storage technologies.
Peabody has been involved in major global initiatives to reduce carbon emissions for nearly two decades. Among other current activities, Peabody is:
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, visit PeabodyEnergy.com and AdvancedEnergyForLife.com.
CONTACT:
Vic Svec
(314) 342-7768
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SOURCE Peabody Energy
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