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Investors Ask Insurers, Oil Cos. For Answers On Spill Prevention

Global investors are asking for energy companies' oil spill prevention measures and information about underwriting changes resulting from the British Petroleum oil spill, according to CERES, a network of investors and environmental groups.

By Caroline McDonald | Updated on August 04, 2010

NU Online News Service July 27, 3:38 p.m. EDT

Global investors are asking for energy companies’ oil spill prevention measures and information about underwriting changes resulting from the British Petroleum oil spill, according to CERES, a network of investors and environmental groups.

CERES said in a conference call that letters–signed by 58 global investors with collective assets totaling more than $2.5 trillion–were sent to chief executive officers at 27 oil and gas companies. Those who signed the letters include the New York State comptroller, California state treasurer, Florida State Board of Administration and the U.K.-based Local Authority Pension Fund Authority Forum.

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