Investors pressure oil companies to improve reporting on climate risk
News of BP joining other oil majors in lowering value of its assets amid global transition to cleaner energy signals campaign is working, investors say
22 June 2020 - 09:12
London — Investors managing £1.8-trillion in assets are widening a campaign pressing oil majors to better reflect climate risks in their accounting, and will soon target other businesses with heavy fossil fuel exposure, the group said on Monday.
The investors believe their campaign is working, noting the “hugely important” news of BP joining other oil majors in lowering the value of its assets amid a global transition to cleaner energy, said Natasha Landell-Mills, head of stewardship at asset manager Sarasin & Partners...
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