Canadian Oil Sands – ExxonMobil (2012)
WHEREAS: ExxonMobil has significant investments in the Canadian oil sands. ExxonMobil owns 69.6 percent of Imperial Oil, one of Canada’s largest oil companies. Imperial is 100 percent owner of the Cold Lake oil sands project and is the operator and 25 percent owner of Syncrude. ExxonMobil and Imperial jointly own and operate 100 percent of the Kearl oil sands project. According to ExxonMobil’s 2010 10-K, oil sands represent approximately 11 percent of proved reserves, demonstrating our company’s significant reliance on Canada’s oil sands for long term growth. There are significant environmental, social and economic risks associated with oil sands. The …
Trillium joins investors in urging oil companies in Libya to cut off support to Qaddafi regime
Oil Companies Should Halt Revenue Payments to Government, Fund Civilian Recovery WASHINGTON, D.C. – Twenty-four institutional investors, including Trillium Asset Management, called on oil companies doing business in Libya to halt revenue or other payments to the Libyan government. The investors have called on oil companies to place revenue payments into a Libya Recovery Fund that would cut financial support from the government while avoiding undue economic harm to civilians. “Oil companies operating in Libya possess tremendous economic leverage and have an opportunity – and responsibility – to ensure their operations do not support the Libyan government, which has launched …
Trillium Joins Investors in Challenging Nine Oil and Gas Companies on Hydraulic Fracturing Practices
January 21, 2011 Trillium Files Resolution with Anadarko Petroleum to Spur More Responsible “Fracking” Practices BOSTON – Leading U.S. investors today announced they have filed shareholder resolutions with nine oil and gas companies, pressing them to disclose their plans for managing water pollution, litigation and regulatory risks that are increasingly associated with ever-expanding natural gas hydraulic fracturing operations (also known as “fracking”) in the United States. Resolutions were filed with many of the natural gas industry’s significant players, including ExxonMobil, Chevron, Ultra Petroleum, El Paso, Cabot Oil & Gas, Southwestern Energy, Energen, Anadarko and Carrizo Oil & Gas. “Oil and …
"Green Investors Pull Out of BP"
Trillium CEO Matt Patsky was quoted in Forbes.com on June 4, 2010, in an article about money managers divesting their holdings of BP after the oil spill. “This has turned into something that is much worse than we ever could have imagined, ” Patsky said. “Our fears were that this would turn into a bigger tragedy than the market originally thought.” Click here to read the full article. …
ExxonMobil – Greenhouse Gas Emissions Reduction (2009)
WHEREAS The International Energy Agency warned in its 2008 World Energy Outlook: “For all the uncertainties highlighted in this report, we can be certain that the energy world will look a lot different in 2030 than it does today. The world energy system will be transformed…” Cambridge Energy Research Associates’ (CERA) Chairman Daniel Yergin notes that “climate change and putting a price on carbon will change the dynamics of the energy marketplace.” CERA further reports that clean energy investment could surpass $7 trillion by 2030 and that “clean energy is not a bubble or passing phenomenon. Clean energy is now …
ConocoPhillips – Environmental Impacts of Oil Sands (2009)
WHEREAS ConocoPhillips has extensive interests in oil sands operations in the Canadian boreal forest. ConocoPhillips holds a 9% interest in Syncrude; is the operating partner of the Surmont oil sands; and is a partner in the FCCL Oil Sands Partnership. Total production capacity for these projects is estimated at 950 MBD within the next few years. The boreal provides critical climate regulation for the earth as a whole, storing more than 186 billion tons of carbon — equivalent to 913 years’ worth of Canada’s greenhouse gas emissions. More than 30% of North America’s bird population rely on the boreal for …
Investors Decry BP's Entry Into Tar Sands
INVESTORS DECRY BP’S ENTRY INTO TAR SANDS Statement to be submitted at BP annual meeting today in London Contacts: Shelley Alpern, Trillium Asset Management Corporation (617) 292-8026, x 248 Lauren Compere, Boston Common Asset Management (617) 720-5557 April 17, 2008 (Boston) – A group of American and British investors released a statement today expressing disappointment at BP’s (NYSE: BP) investment in the Canadian tar sands, calling the move a “disturbing step backwards.” A representative from the Ecumenical Council for Corporate Responsibility intends the statement at BP’s annual stockholder meeting, which is taking place today at ExCeL London in London …
Tar Sands Development Stickier Than Anticipated
In a rational global economy not entirely driven by short-term profit maximization, the collective body politic of all nations would have applied the precautionary principal to the threat of climate change twenty years ago. We’d now be celebrating the fruits of two decades of aggressive efficiency measures, phased down fossil fuel use, and the mass distribution of renewable energy technologies. Instead, we have the tar sands. Record oil prices and declining access to the oil and gas resources of nations such as Russia, Saudi Arabia, Sudan and Venezuela has led to a rush to develop Canada’s tar sands deposits. CIBC …
Chevron – Global Environmental Standards Report (2008)
WHEREAS The Chevron Business and Ethics Code places the highest priority on the safety of its staff, community members and the environment where it operates. Corporate Policy 530 “commits Chevron to comply with the spirit and letter of all environmental, health and safety laws and regulations, regardless of the degree of enforcement.” Our company operates in 180 countries, including Africa, Asia and Latin America nations where environmental regimes may be less protective of human health and the environment than in North American and European countries where Chevron operates. CEO David O’Reilly has recognized the importance of our company’s relationships with …
Urge the Oil Companies to Leave the Arctic Refuge Alone
Please send this letter to top management at BP, Chevron and ExxonMobil. Addresses Sir John Browne Group Chief Executive BP Britannic House 1 Finsbury Circus London EC2M 7BA GREAT BRITAIN Mr. Dave O’ Reilly Chief Executive Officer Chevron Corporation 575 Market Street San Francisco, CA 94105 Mr. Lee R. Raymond Chairman and Chief Executive Officer ExxonMobil Corporation 5959 Las Colinas Boulevard Irving, TX 75039 Dear Mr. ________: I am writing to urge that [BP, Chevron, ExxonMobil] cancel its plans to drill for oil on the coastal plain of the Arctic National Wildlife Refuge. I also urge that [BP, …
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