RI.com 10/05/06: Investor coalition calls for clean energy shift after BP Deepwater disaster
In response to the Deepwater Horizon oil leak, which is estimated to be spilling about 5,000 barrels of oil a day into the Gulf of Mexico, Ceres president Mindy Lubber, said: “Our fossil fuel dependence is increasingly and dangerously unsustainable, economically as well as environmentally, and has enormous social and environmental costs not accounted for in the price of a barrel of crude.”
Ceres coordinates the Investor Network on Climate Risk (INCR), an alliance of more than 90 institutional investors and financial firms that collectively manage nearly $10 trillion in assets. BP, the UK oil giant, which owns the drilling rights for Deepwater, has seen tens of billions wiped off its share price since the explosion on the rig, which killed 11 people.. Read more
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