Photography Jiri Rezac/WWF UKTar sands make up the world’s second largest oil reserves (173 billion barrels) and the damage they can cause to the climate is even worse than conventional oil. Greenhouse gas emissions of converting tar sands into fuel are three times higher than conventional oil and roughly three barrels of natural gas are consumed to create one barrel of oil. Tar sands also have human rights costs. The pollution, deforestation and wildlife disturbance associated with tar sands developments also threaten the traditional livelihoods and wellbeing of indigenous communities. This spring UK pension providers will have the chance to vote on tar sands developments at shareholder meetings of BP and Shell, and will be making up its mind about how to vote anytime now.
If you are a member of a pension scheme:
Your pension provider almost certainly has substantial shareholdings, held on your behalf, in the companies who are involved in (or considering becoming involved in) tar sands developments.
This spring your pension provider will have the chance to vote on tar sands developments at shareholder meetings of BP and Shell, and will be making up its mind about how to vote anytime now.
Tar sands not only endanger the climate and human rights, but also create financial risks for pension scheme members, because of expected rises in carbon-emissions costs, legal costs and other problems affecting oil companies which form a big proportion of most schemes’ investment portfolios.
The resolutions are already supported by some major investors, but we need you to use the power of your pension or savings to force a review of this damaging and risky activity.
As a pension scheme member, it's your right to express your concerns to them. Past campaign successes prove that contacting your pension fund can change corporate behaviour. The more people who speak out, the more likely it is that action will be taken. In less than one minute, you can petition your pension scheme to challenge Shell and BP about tar sands.
Ask your pension scheme to challenge Shell and BP about tar sands
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