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News bites: Gov. Cuomo warns investors on climate risk after Sandy

New York Gov. Andrew Cuomo’s (D) administration has “started to caution investors that climate change poses a long-term risk to the state’s finances,” The New York Times reports.

The move arrives in the wake of last year’s Hurricane Sandy. From the Times:

The warning, which is now appearing in the state’s bond offerings, comes as Mr. Cuomo, a Democrat, continues to urge that public officials come to grips with the frequency of extreme weather and to declare that climate change is a reality.

A spokesman for Mr. Cuomo said he believed New York was the first state to caution investors about climate change. The caution, which cites Hurricane Sandy and Tropical Storms Irene and Lee, is included alongside warnings about other risks like potential cuts in federal spending, unresolved labor negotiations and litigation against the state.

USA Today unwraps an Obama administration report on adapting to climate change.

Reuters reports on an accident at Suncor's oil sands operations in Alberta that may have contaminated a major river.

Bloomberg examines European Union debate over climate and energy regulations.

The Wall Street Journal
explores development of shale gas in China.