By suzannei on March 29, 2010

Your pension could be invested in some of the planet’s most controversial oil projects.  Here is an opportunity to do something about it.

 At their 2010 Annual General Meetings (AGMs) in April and May, oil companies BP and Shell will face special resolutions at which shareholders will challenge their Alberta tar sands projects…  Critics say that these projects threaten global efforts to avoid dangerous levels of climate change.  They have been associated with pollution, deforestation, wildlife disturbance and threaten the livelihoods and wellbeing of indigenous communities.

 If passed, the resolutions would require both companies to commission a detailed report justifying their involvement.  Although this is unlikely (because, most investors tend NOT to vote against a company’s recommendations) it is hoped that there will be sufficient support to show the companies’ managements that there is significant investor concern about the projects.

 You can help to support the resolutions in a number of ways – whether or not you are a shareholder. 

 Shareholders – can vote for the resolutions

Pension fund holders – can ask their fund providers to support the resolutions on your behalf

Everyone – can e-mail a major Shell of BP shareholder to express their concern about tar sands.

 You can find out how to do any of these, quickly and easily at: www.fairpensions.org.uk/tarsands/action

 Read the full BWE article at http://www.quaker.org.uk/bwe16-investing-climate-change