How to manage social & environmental risk for oil, gas and mining North America
Best practice in stakeholder engagement, implementation and reputational risk and opportunity for the extractives industry from the likes of; Anglo American, Rio Tinto, Debeers, ExxonMobil, Calvert Investments and more
Analysis: Oil industry climate risks - Risky business
Oil giants are failing to disclose to investors the risks posed by climate change, a new report finds
Major oil and gas companies are failing to tell investors about the full risks related to both climate change and new forms of resource development, according to a damning report from Ceres, an influential Boston-based coalition of investment and public interest groups.
The report looks at the first quarter 2011 Securities and Exchange Commission filings of 10 companies – Apache, BP, Chevron, ConocoPhillips, Eni, ExxonMobil, Marathon, Shell, Suncor and Total – and grades the quality of disclosures across issues such as deepwater drilling safety, and preparedness for climate regulation.
Of 60 climate-related disclosures, it classed only five as “good”, with 34 deemed “poor or no disclosure”. Of 50 deepwater drilling rates, it says only four were “good”, with 29 “poor or no disclosure”. None of the disclosures was rated “excellent”, meaning even the best companies could do better.
Ceres says energy companies have taken on increasingly risky projects, without updating investors of...
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Best practice in stakeholder engagement, implementation and reputational risk and opportunity for the extractives industry from the likes of; Anglo American, Rio Tinto, Debeers, ExxonMobil, Calvert Investments and more
