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On June 13, 2012 Sustainalytics discussed the potential risks faced by companies that continue to test environmental boundaries in oil and gas development.
Despite mounting evidence that climate change requires a shift towards a low carbon economy, hydrocarbon demand is on the rise. Oil and gas producers continue to push offshore projects into unconventional, deeper and colder frontiers. The Deepwater Horizon incident in the Gulf of Mexico caused a global cascade of regulatory reviews, the results of which will inevitably increase operational costs. Confronted with the possibility of a similar disaster in the fragile and unique Arctic environment, oil companies face further mistrust and resistance to operations in that region. Unplanned events, such as spills or injuries, present significant reputational, regulatory and operational risks for individual companies, their investors, and the oil industry as a whole.
Informed by analysis from his report "Deepwater and Artic Drilling", Sustainalytic's Associate Analyst, Alberto Serna Martin presented an online webinar discussing the the potential risks faced by companies that continue to test environmental boundaries in oil and gas development. Alberto was joined by Jeremy Kent, Research Associate at RCM UK who discussed the risks for investors.