An investor climate lobby group consisting of many of the world’s biggest pension fund and asset managers says some of its members are weighing up legal action against oil companies involved in controversial tar sands extraction projects in Alberta, Canada...The Institutional Investors Group on Climate Change (IIGCC), which comprises more than 50 European pension funds and asset managers with a combined worth of around €5trn, said in a new report that its members were focusing increasingly on the risk of environmental litigation. [refers to BP, Shell]