BMW, BP and steelmaker ArcelorMittal are being targeted by a $2tn group of big investors over concern that they back “behind the scenes” lobbying to undermine efforts to limit climate change while publicly backing carbon reduction. The coalition of investors, led by the Church of England Pension Board and Swedish pension fund AP7, has written to 55 European corporations about their possibly hypocritical approach to climate lobbying. The investors have called on the companies, which include seven automakers and 10 oil groups, to review the positions adopted by trade associations and organisations of which they are members. It has called for transparency.
FT 28th Oct 2018 read more »
A second tremor in a 24-hour period has been recorded at the UK’s only active fracking site near Blackpool. Cuadrilla was forced to halt operations for 18 hours on Friday after a 0.8-magnitude tremor. Fracking restarted on Saturday morning before a second tremor was detected. Saturday’s tremor is the 18th in the area since fracking recommenced 12 days ago. It was too small to be felt above ground and was not categorised as a “red” event by the Oil and Gas Authority, unlike the one on Friday, because it occurred after operations had finished at 1pm. The company only has permission to frack until that time on Saturdays.
Guardian 27th Oct 2018 read more »