Oil Change International is urging the Securities and Exchange Commission (SEC) to force oil companies to disclose reserves drawn from polluting oil sands, due to their above-average lifecycle emissions of greenhouse gases
The SEC is considering to allow companies to include oil sands reserves for the first time. As the SEC mulls the change, OCI is pressing regulators to add disclosure requirements to recognize that higher-carbon fuels carry increased risks for investors.
“Regarding reserves reporting, it is … important to protect investors by disclosing the percentage of a companies’ reported reserves that has a higher than average full lifecycle greenhouse gas emissions associated with extraction, production and combustion of the reserves,” OCI submitted to the commission last month.
OCI is arguing that disclosure is important in light of state and federal efforts to curb greenhouse-gas emissions.
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