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DiNapoli pushes 10 companies to cut greenhouse gas emissions

New York state Comptroller Thomas P. DiNapoli has written to 10 companies asking them to reduce greenhouse gas emissions and address financial risks associated with climate change.

Mr. DiNapoli wrote the letters in his capacity as sole trustee of the $209.1 billion New York State Common Retirement Fund, Albany.

"As a long-term investor, we want the companies in our portfolio to demonstrate a commitment to sustainability, lower emissions and a low-carbon future," Mr. DiNapoli said in a news release Tuesday. Mr. DiNapoli did not threaten to issue a shareholder proxy challenge.

On Monday, Mr. DiNapoli announced the pension fund had withdrawn shareholder proposals at DTE Energy Co., Dominion Energy Inc. and Southwestern Energy relating to their climate-change disclosure policies.

In his letters to the 10 companies, he asked the companies to establish emission-reduction targets as defined by the Paris Agreement and to make public a report this year on efforts to achieve those goals.

The letters were sent to Phillips 66 Co., Xcel Energy Inc., Valero Energy Corp., Martin Marietta Materials Inc., Berkshire Hathaway Inc., Calpine Corp., Delta Air Lines Inc., NextEra Energy Inc., Entergy Corp. and Southern Co.