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Investors urge oil spill action plans

Financial Times

By Sheila McNulty in Houston

Published: August 5 2010 05:19 | Last updated: August 5 2010 05:19


Investors managing over $2,500bn in assets are pressing the world’s biggest oil and gas companies to disclose their spill prevention and response plans for offshore oil operations.

The letters, which have been sent to chief executives at 26 energy companies, including ExxonMobil, Royal Dutch Shell, Chevron and Petrobras, were signed by more than 50 investors, according to Ceres/Investor Network on Climate Risk.

Signatories include such leading investors as the UK-based Local Authority Pension Fund Forum (LAPFF), the California State Treasurer (who sits on boards of CALPERS and CalSTRS) and the Florida state retirement system (known formally as the Florida State Board of Administration).

Copyright The Financial Times Limited 2010.


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