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Green investors urge Idaho Power to cut emissions

The utility has drawn criticism for using coal from Wyoming and Nevada for half of its power.

BY ROCKY BARKER - rbarker@idahostatesman.com

Published: 12/24/08


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Green investor groups have filed a shareholder resolution with IdaCorp urging the Boise company to set goals for reducing greenhouse gas emissions.

The resolution was filed by As You Sow Foundation and Calvert Asset Management, members of the Interfaith Center on Corporate Responsibility, a coalition of faith-based and socially responsible investors with $110 billion in combined assets.

Trillium Asset Management, which has a Boise office, filed a similar resolution. It asks that IdaCorp, Idaho Power's parent company, to present a plan to reduce greenhouse gas emissions by Sept. 30, 2009.

Idaho Power depends on coal from Wyoming and Nevada for 50 percent of its power. The groups criticize the company for not aggressively developing renewable resources like wind, solar and geothermal.

"Shareholders are particularly concerned that IdaCorp's heavy reliance on coal makes it vulnerable to financial risk," said Michael Passoff, associate director of As You Sow, based in San Francisco.

IdaCorp is reviewing the resolution, said Pat Harrington, corporate secretary of the utility holding company. The resolution will come up for a vote at the annual investors meeting in May.

"This is early in the process," Harrington said. "We haven't really developed a response to it."

He pointed out that Idaho Power's hydroelectric dams, which account for 46 percent of its power source, produce relatively carbon-free power and rank the utility among the lowest in the country for greenhouse gases.

Rocky Barker: 377-6484

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