REPORT: Investor guidance on Canadian oil sands
As the world approaches and surpasses peak oil status, oil companies increasingly turn to less conventional sources to meet global demand for oil. One less conventional source is the Canadian oil sands, which are estimated to provide the second largest supply of oil in the world after Saudi Arabia.
Oil sand projects have faced a number of allegations that they violate international norms. Current practices used for extracting and upgrading synthetic crude oil from the oil sands are alleged to be energy-intensive and cause significant harm to the environment. In addition, many operations are carried out in alleged contradiction to the right of indigenous peoples to control over their natural resources. Although increased transparency would help begin to address these issues, the most helpful step forward would be informed dialogue on benchmarking better practices.
To that end, Ethix SRI Advisors’ report provides guidance for investors on the Canadian oil sands. The report includes the following information:
- Specific allegations facing oil companies
- International norms implicated in these allegations
- Corporate involvement in oil sands
- Recommendations for better practices, including industry guidelines and developing benchmarks that respond to allegations facing the industry
In compiling this report, Ethix SRI Advisors has been in dialogue with companies and expert organizations.
For information about the report contact Carmen Butler at +46 8 407 00 23.