WWF Scotland director Lang Banks has today (Monday 22 August) responded to the news that Cairn Energy, an Edinburgh head-quartered oil and gas explorer, has been reported to UK regulators for allegedly withholding information from investors on climate change risks with the following statements :
“In the interests of tackling climate change, science tells us we cannot burn all of the oil and gas that remains globally. That’s why it’s important that companies like Cairn Energy acknowledge to investors the risks that climate change poses to their businesses.
Climate risks that are themselves being brought about, in part, from their very activities as a fossil fuel company.
“We believe Scottish companies like Cairn Energy should be leaders in clean energy instead of desperately seeking to squeeze out every last drop of oil no matter the risks. Instead, we need to see a sensible transition away from fossil fuels toward clean energy, harnessing the skills of those currently employed in the sector.”