ShareAction | High Risk, Low Reward An overview of European Banks’ position on oil sands.


The unconventional methods involved in the extraction and production of Canadian oil sands, as well as the unique geographical position of oil sands deposits, trigger important environmental and social challenges reaching far beyond Canada’s borders (page 9, “ESG Challenges”). These operations also carry financial risk. On average, oil sands operations are more capital-intensive and involve higher production costs compared to other types of fuel, with historical pipeline capacity constraints further weighing on oil sands economics (page 12, “Economic Challenges”). As a result, oil sands operations are on a collision course with the goals of the Paris Agreement... 

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