Oil & Gas News
Read news articles, blogs and press releases about the oil and gas industry and sustainability issues such as carbon emissions, chemicals and toxins, water scarcity and fossil fuels.
In Exxon's Latest Annual Report, It's Business as Usual on Climate Change
Feb 26, 2016
- ExxonMobil's annual report to stockholders this year may be more noteworthy for what the fossil fuel giant didn't say about global warming than for what it did say. In the document's legally mandated discussion of risks to the business, Exxon didn't disclose that the New York State attorney general is investigating whether the company violated shareholder and consumer protection statutes in its communications about climate change over almost four decades.
Shareholders Ask the SEC: Stop ExxonMobil’s Attempts To Block Climate Resolutions
Feb 26, 2016
- Now is just not a good time to be ExxonMobil. Five shareholders, led by New York state’s comptroller, asked the U.S. Securities and Exchange Commission to reject the oil giant’s plan to block a climate change shareholder resolution. Filed in December, the shareholder resolution requests that by 2017 Exxon publish an “annual assessment of long-term portfolio impacts of public climate change policies.”
New York asks SEC to force climate vote onto Exxon proxy
Feb 24, 2016
- New York state's comptroller and four other Exxon Mobil shareholders asked the U.S. Securities and Exchange Commission this week to force the oil producer to include a climate change resolution in its annual shareholder proxy, according to a filing seen by Reuters.
Investors Ask SEC to Reject Exxon's Attempt to Silence Questions on Climate Change
Feb 24, 2016
- Investors, led by New York State Comptroller Thomas P. DiNapoli and the Church of England’s investment fund, asked the Securities and Exchange Commission (SEC) to reject ExxonMobil’s plan to block a shareholder proposal for information on how the company will be impacted by public policies seeking to rein in climate change.
Statement from Ceres president Mindy Lubber regarding yesterday’s Supreme Court ruling temporarily staying EPA’s Clean Power Plan
Feb 10, 2016
- Ceres strongly disagrees with the Supreme Court's decision to stay the Clean Power Plan while litigation proceeds. Over 365 businesses and investors support the Clean Power Plan and they're backing their words with deeds.
New report: $12.1 trillion must be invested in new renewable power generation over next 25 years to limit climate change
Jan 29, 2016
- To reach the level of investment in new renewable power generation needed to avert dangerous climate change, $12.1 trillion of investment will be needed over the next 25 years, which is $5.2 trillion above business-as-usual projections, a new report by Ceres and Bloomberg New Energy Finance concludes.
Drop In Oil Prices Complicates Effort To Combat Climate Change
Jan 28, 2016
- Replacing fossil fuels with renewable energy to combat climate change will require trillions of dollars in investment. Cheap prices for fossil fuels are making that transition a bit more complicated.
Fossil Fuels Are A Terrible Investment, And They're Only Going To Get Worse
Jan 28, 2016
- The market is encouraging pension funds and institutions to jettison fossil fuels from their portfolios, waving a clear warning flag to investors about the financial future of oil and coal companies.
UN urges business leaders to double investment in green energy by 2020
Jan 27, 2016
- The United Nations urged global business leaders on Wednesday to double investment in wind and solar energy to $600bn a year by 2020. Business leaders were challenged to act decisively to hasten the transition away from the fossil fuel economy.
500 Global Investors Managing Trillions Mobilize Action in Wake of Paris Climate Agreement
Jan 27, 2016
- On the heels of the historic international climate agreement in Paris, more than 500 global investors gathered at the United Nations to begin mobilizing the trillions of dollars needed to catalyze the global clean energy transition.
U.S. Oil and Gas Companies Not Adequately Disclosing Climate Risk
Jan 25, 2016
- Climate change poses risks to the operations of oil and gas companies. Yet, large U.S. oil and gas companies are not giving adequate disclosures to their investors about climate-related risks to their operations. Not one of the 23 American oil and gas companies in the S&P 500 index included the potential impact of an international agreement to limit climate change in their most recent disclosures.
New SEC Search Tool Shines Light on What Fossil Fuel Companies are Saying About Growing Carbon Asset Risks
Jan 12, 2016
- Wondering what oil companies are telling investors about growing pressures to reduce carbon pollution and what that means for their long-term oil exploration projects and overall business strategies? Ceres and CookESG Research now have a way to get the answer: a new web tool for accessing carbon asset risk disclosures in company filings with the U.S. Securities Exchange Commission (SEC).
Ceres President Applauds Historic International Climate Agreement in Paris
Dec 12, 2015
- Ceres president Mindy Lubber issued a statement heralding the final international climate agreement announced in Paris.
Carney Backs Effort for Standard Company Climate Disclosure
Dec 04, 2015
- Bank of England Governor Mark Carney backed a global effort to bring greater transparency to the way companies disclose the risks they face from climate change, wading into a debate that has ensnared some of the biggest fossil-fuel producers.
New York AG mulls widening effect from Peabody climate settlement
Nov 13, 2015
- The New York state attorney general's office, which told Peabody Energy this week to give investors more details about how its sales would suffer from measures to curb global warming, is now mulling whether the tactic it used with the coal firm could be applied to companies beyond the energy sector.
Investors in Fossil Fuel Companies Boost Focus on Carbon Asset Risk in Warming World
Oct 16, 2015
- A new report cites climate change pressures, regulatory trends and market forces that have triggered a heightened investor focus on how energy companies are grappling with the transition to a low-carbon global economy.
US Businesses, Investors Urge Stronger Truck Standards
Sep 30, 2015
- Two major coalitions of business and investment leaders today called on the Obama Administration to strengthen its proposed rules for medium- and heavy-duty trucks, citing tens of billions of dollars and hundreds of millions of tons of greenhouse gas emissions that could be saved.
Statement from Mindy Lubber on Shell Announcement to Cease Offshore Oil Exploration in Arctic
Sep 28, 2015
- Shell's failed Arctic drilling endeavor is powerful evidence that the specter of stranded carbon assets is a real and growing problem for oil & gas companies.
California should stick with clean-fuel rule
Sep 22, 2015
- Though state lawmakers caved to the oil industry by spiking a plan to sharply reduce gasoline use, there’s another option for Sacramento in reducing climate change and promoting alternative sources to fill gas tanks. State regulators are close to extending a measure that cuts carbon levels in everyday driving fuel. The low-carbon standard is among a batch of policies designed to cut carbon dioxide, the chief greenhouse-gas culprit blamed for rising temperatures and whipsawing weather. Extending the mandate to cut levels in gas is an essential part of state strategies to curb climate change.
Major Companies Announce Support for California’s Low Carbon Fuel Standard
Sep 22, 2015
- Thirty-six companies, including 11 based in California, issued a letter to California Air Resources Board Chairman Mary Nichols expressing strong support for the re-adoption of California’s Low Carbon Fuel Standard (LCFS), citing the standard’s influence on investment in cleaner transportation fuels. The letter was coordinated by Business for Innovative Climate and Energy Policy (BICEP), a project of the nonprofit sustainability advocacy organization, Ceres.