Dear Fellow Stakeholders,
At last year’s Annual Shareholders meetings, First Gen and the other FPH group companies pledged that we would no longer consider developing or investing in coal-fired power plants. When we made the decision to close the door to any of our companies putting up coal-fired power plants, it was not an easy one. Even today, we are the only large energy company in the country that has done so unequivocally.
Recently, we’ve been inundated by even more global evidence telling us that we have much less time to act than originally believed. Global warming is already wreaking havoc on the Earth’s water cycles and creating weather extremes like we’ve never seen before, and it is accelerating faster than previously imagined because of all the feedback loops being unleashed.