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Investors Managing $2.5 Trillion Press Energy Companies to Better Disclose Spill Prevention and Response Plans For Deepwater Wells Worldwide
August 5, 2010In the wake of significant financial losses from the BP oil spill and in response to a proliferation of deepwater offshore drilling worldwide, more than 50 U.S. and other global investors have sent letters to major energy companies asking them to disclose information regarding their risk oversight measures, including spill prevention and response plans, for their own offshore oil operations around the world. The letters, sent to CEOs at 27 oil and gas companies, were signed by 58 global investors with collective assets totaling more than $2.5 trillion, including the Pennsylvania State Treasurer, New York State Comptroller, California State Treasurer, Florida State Board of Administration and the UK-based Local Authority Pension Fund Authority Forum. Full release.
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