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Unconventional Oil: Scraping the Bottom of the Barrel

Unconventional Oil: Scraping the Bottom of the Barrel

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Published by Ryan Van Lenning
Tar Sands and Oil Shales
Tar Sands and Oil Shales

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Categories:Types, Research
Published by: Ryan Van Lenning on Oct 29, 2010
Copyright:Attribution Non-commercial

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10/29/2010

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Unconventional Oil
Scraping the bottom of the barrel?
The
co-operative
bankinsuranceinvestments
 
WWF, one o the world’s most experienced conservationorganisations, addresses global threats to people and nature suchas climate change, the peril to endangered species and habitats,and the unsustainable consumption o the world’s natural resources.We do this by inuencing how governments, businesses and peoplethink, learn and act in relation to the world around us, and byworking with local communities to improve their livelihoods and theenvironment upon which we all depend. WWF uses its practicalexperience, knowledge and credibility to create long-term solutionsor the planet’s environment.I everyone in the world consumed natural resources and generatedcarbon dioxide at the rate we do in the UK, we would need threeplanets to support us. The impacts – which include climate change,deorestation and biodiversity loss – are starting to aect us all. WWFhas a vision or a One Planet Future – a world in which people andnature thrive within their air share o the Earth’s natural resources. That is why WWF is working to develop a One Planet Financesystem, where the investments made by individuals and institutionscontribute to this vision. This includes holding the owners andmanagers o capital to account on how unds are used – because itwill be essential to direct ows o capital away rom carbon-intensiveactivities and towards low-carbon opportunities. The Co-operative Financial Services (CFS) is part o TheCo-operative Group, the UK’s largest consumer co-operative.CFS is the group o businesses that includes The Co-operativeBank, The Co-operative Insurance and The Co-operativeInvestments. CFS puts the social concerns o its 6.5 millioncustomers at the heart o the way it does business.In 1992, The Co-operative Bank became the frst UK high streetbank to launch a customer-led Ethical Policy. Through the policy, thebank sets out where it will and will not invest its customers’ money.In June 2005, The Co-operative Insurance became the world’s frstinsurance company to launch a customer-led Ethical EngagementPolicy. It directs how The Co-operative Insurance and TheCo-operative Investments use their inuence as shareholders topush or positive change within the companies in which they invest.
 About WWF
 Acknowledgements
 The report was written by James Leaton o WWF-UK, withcontributions rom Colin Baines o The Co-operative Group,Niall O’Shea o The Co-operative Investments, and Anthony Footitto the Tyndall Centre or Climate Change Research. The authorswould also like to thank Gary Kendall, Rob Powell, Hadley Archer,Mark Eckstein, Francis Grant-Suttie, Arlin Hackman, Julia Langer,Louise Hotchkiss, Peter Denton and Alun Evans or theircomments and contributions.Photography: © Jiri Rezac / WWF-UK unless stated otherwise.
 About The Co-operativeFinancial Services
 
1
It’s one thing or society to be saddled with an existing energystrategy that could result in dangerous climate change; it’s anotherthing when new technologies are exploited that push us closer toclimate disaster - and that is what the commercialisation o unconventional ossil uels would do.One can provide good social, environmental and economicrationales or why the commercialisation o unconventional oils byrich developed countries is wrong-headed, but the long and shorto it is that it is plain and simply ‘wrong’. How can we expect thedeveloping world to emerge along a low carbon path when (a) thevast bulk o CO
2
already in the atmosphere is rom us and (b) we thengo on to exploit even more climate hostile sources o energy. The Co-operative Group, and particularly our fnancial servicesbusinesses, intends to devote a not insignifcant amount o time,energy and money to this issue, and with the support o ourcustomers and members we hope to help secure a saer,low-carbon uture.Paul Monaghan
Head o Social Goals and Sustainability The Co-operative Group
Foreword

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