US investor groups want companies to disclose deepwater drill risks
Dec 14, 2010
- A coalition of US state pension funds and other institutional investors said Tuesday they want the Securities and Exchange Commission to force companies that explore for oil and gas in deepwater to disclose how they are addressing the risks and weaknesses identified in the wake of April's Deepwater Horizon disaster. Ceres, a network of investor and environmental groups, along with the Investor Network on Climate Risk, has sent a letter to the National Oil Spill Commission, asking members to include an SEC disclosure requirement in their final report, which is due in January.
Major Investors Urge Oil Spill Commission to Seek SEC-Required Disclosure of Offshore Drilling Risks
Dec 14, 2010
- December 14, 2010 – The Securities and Exchange Commission should play a critical role in requiring oil companies to boost their public disclosure of material financial risks they face from offshore oil drilling projects. To that end, a group of leading U.S. investors has asked the national commission investigating the Gulf of Mexico oil spill to recommend development of new disclosure guidance from the SEC for energy companies involved in ever-increasing deepwater drilling activity globally.