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Article

18 May 2010

Author:
Sarah Arnott, Independent [UK]

Shell faces shareholder questions on tar sands

Shell will become the latest major corporation to face investor questions about tar sands developments at its annual general meeting (AGM) today...Some 142 investors have backed a special resolution calling on Shell to give more details on the financial, environmental and human rights risks of tar sand, which make up a third of the major's resource portfolio. The responsible investment charity FairPensions, which co-ordinated the action, was behind a similar special resolution put to rival BP's AGM last month…Royal Bank of Scotland has also come under pressure from environmental groups for underwriting tar sands projects. Shell has already responded to the tabling of the resolution