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Climate cost study wanted

05/26/2008
By NINA RACH
The Free Enterprise Action Fund (FEAOX) is pushing the ConocoPhillips board of directors to review and report the costs and benefits of company efforts to comply with climate change regulations.Action Fund Management, the investment adviser to FEAOX, filed a proposal asking ConocoPhillips to prepare by next year a report as to how its actions have reduced global temperatures or helped avoid weather-related disasters. “Given that global warming regulation could significantly harm the company’s earnings, this failure on the part of the board to conduct the necessary due diligence may leave them open to liability for breach of fiduciary duty,” said FEAOX in a May 14 stateme...
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