Investors Take on Oil and Gas Companies' Fracking Practices

Investors led by the Investor Environmental Health Network and CERES filed resolutions on improving hydraulic fracturing practices. The risks of fracking are still being discovered, and while many believe that the practice shouldn't move forward until then, it already is. Investors are standing up to say companies should at least be be worried about the environmental risks of the practice.

According to the release:
“High profile water contamination incidents, new litigation, and public protests that include calls for moratoria on natural gas permitting all suggest sizeable and rising business risks to companies and attendant threats to shareholder value,” said Richard Liroff, executive director of the Investor Environmental Health Network (IEHN), which helped coordinate the resolutions. “Shareholders need assurance that companies are candidly disclosing these risks and are adopting best management practices to minimize them.”

Investors filing the resolutions include the New York State Comptroller (Cabot Oil & Gas, Carrizo Oil & Gas), Domini Social Investments (Southwestern Energy), As You Sow (ExxonMobil and Ultra Petroleum), Trillium Asset Management (Anadarko), Miller/Howard Investments (El Paso and Energen), and The Sisters of St. Francis of Philadelphia (Chevron). Cabot Oil & Gas, Carrizo Oil & Gas, El Paso, Southwestern and Ultra Petroleum are headquartered in Houston; Energen is based in Birmingham, Alabama; Anadarko in The Woodlands, Texas; Exxon Mobil in Irving Texas, and Chevron in San Ramon, California.

Read the whole release at IEHN .

Keep in touch

Sign up to receive our updates and get access to all features of this website. Sign in with:

Latest from the blog

Oct 20, 2016
REC Goes to North Carolina Divestment Convening & Launching of New Responsible Endowment Fund   On October 1st, Natalie Casal and I went to Greensboro, North Carolina for a North Carolina Convening for Divestment and Reinvestment. The event was a gathering of students, alumni, parents, and community members from Guilford...
Oct 06, 2016
DEADLINE: Sunday, October 16, 11:59 PM EST. Fill out this form if you would like to be considered for a student scholarship to attend the 2016 REC Kamayan Dinner, celebrating international solidarity and student power, on Wednesday, October 19, 2016 at May Day Space in Brooklyn. Applicants will be notified...
Oct 03, 2016
KAMAYAN: Celebrate REC, U.S. Student Movements, & International Solidarity October 19, 2016 at 7:00pm - 10:30pm Mayday Space - 176 St Nicholas Ave., Brooklyn, NY 11237 In June 2016, REC sent a delegation of U.S. fossil fuel divestment student activists to learn about the impact of climate change and extractive industry...