Investors seeking information on boards’ competence in wake of Gulf spill
The Investor Network on Climate Risk (INCR), an investor coalition representing $10trn of assets, is planning to write to oil majors – as well as insurers and re-insurers – in the wake of BP’s Deepwater Horizon oil spill in the Gulf of Mexico.
Speaking at the Responsible Investor ESG USA conference in New York, Rob Berridge, senior manager of investor programs at US investor group Ceres, said the INCR is currently drafting the letter.
“The things we are looking for are board expertise on environmental health and safety activities,” Berridge said. “Does the board have that expertise? What’s the link between environmental health and safety issues and executive pay?”
The investors will be looking for whether companies have systems in place to monitor contractors on a global basis. “We’d love to see much more information information on that,” Berridge added. The INCR is currently gathering investor signatories to the draft letter.