Dive Brief:

• Responding to shareholder pressure, FirstEnergy will study ways it can cut its carbon dioxide emissions.
• The utility holding company will examine how it can help meet the Obama administration's goal of cutting carbon emissions by 80% by 2050. As a result, a shareholder group agreed to withdraw a related shareholder resolution.
• FirstEnergy's agreement may spur other utility companies to take similar steps, according to New York Comptroller Thomas P. DiNapoli, who helped spearhead the effort.

Dive Insight:

Last year, there were 110 shareholder resolutions filed with 94 companies dealing with climate change and fuel use issues, according to Ceres, an advocacy group. More than 40 resolutions were withdrawn after the companies made pledges to tackle the issues. The resolutions are just one more pressure point utility companies face in dealing with environmental issues.