Green Century, along with the Investor Environmental Health Network, filed shareholder resolutions at 10 major oil and gas companies, advocating that they mitigate and disclose the environmental risks of fracking.
The coalition has led an investor campaign to increase transparency and reduce environmental risks in the fracking (hydraulic fracturing) industry. In response to Green Century’s proposals, Noble Energy Inc. and EOG Resources committed to disclose their plans to manage some key environmental impacts of fracking; both companies will report on their efforts to reduce the risks associated with fracking chemicals and minimize their impact on water resources. Check out some of the dangers of fracking.
Four companies, EOG Resources, Noble Energy, PennVirginia Corporation and Stone Energy have responded with committments to greater efforts and transparency, and the coalition withdrew the resolutions. Anadarko, Chesapeake Energy, Chevron, Exxon Mobil, Range Resources, and Ultra Petroleum have yet to take action.
"This kind of transparency represents a critical step towards protecting our environment – only by assessing impacts in the light of day can we take steps to end them...We are encouraged but not satisfied by Noble’s and EOG’s actions, and will continue to pressure others in the industry to level with investors and communities about their environmental impacts," said Kristina Curtis, President of Green Century.
Green Century Capital Management administers the Green Century Funds, a family of environmentally responsible mutual funds that focus on building a sustainable economy while seeking competitive financial returns. To learn more about investing in the Green Century mutual funds, request information at the website, email email@example.com or call 1-800-93-GREEN.
SPECIAL NOTE: At the NYC Green Festival, Erin Gray of Green Century will profile Green Century’s work on fracking.