One focus of BP’s annual general meeting today is the company’s plans for tar sands (aka oil sands), the heavy, emissions-intensive crude that is abundant in Canada. A campaign led by FairPensions is calling for more disclosure about the economic, financial and environmental reasoning behind both BP’s and Shell’s investments in oil sands projects.
Citi’s oil industry analysts have looked at many of the current and planned oil sands projects and given them a nod for carbon price risk — but not for emissions. That could be a problem, because campaigns like FairPensions’ one are making investors wary of putting money into companies perceived as dirty – CalPers, the US’s largest public pension fund, has already joined the tar sands campaign.


