Investors ask BP to assess risk of Arctic Refuge drilling
  by: OilOnline
  Monday, January 28, 2002

A coalition of British, European, Canadian and American investors filed a shareholder resolution that calls on BP, the world's third largest oil company, to analyze risks to shareholder value from operating in environmentally or culturally sensitive areas, such as the coastal plain of the Arctic National Wildlife Refuge. These risks include operating, financial and reputation risks to the business, the ability to attract and retain high quality staff and the impact on BP's effort in building its reputation as a good corporate citizen. Shareholders will vote on the resolution at BP's annual general meeting April 18 in London. The U.S. Public Interest Research Group's Arctic Wilderness campaign thought it was important for BP to measure the risk to its "carefully cultivated brand image" from drilling in sensitive areas like the Arctic Refuge.