12 Apr '13, 12pm

European banks want more hard data on risks from frackers

European banks want more hard data on risks from frackers

Europe's Climate Principles Framework Initiative, which includes some of the world's largest banks, has released new guidelines on fracking for energy companies. "Fracking" is the popular term for horizontal drilling and well completion operations using hydraulic fracturing to extract natural gas from shale formations. The banks, including Crédit Agricole S.A. and Standard Chartered Bank , wish to see quantitative data on key performance indicators showing how energy companies are managing and reducing environmental risks and community impacts in their fracking operations. The guidelines identify 16 areas of "responsible business practice." Four relate to companies' overall quality of management, accountability and disclosure, and 12 relate to specific operational activities. By relying on the guidelines when making investment decisions, financial institutions can minimize...

Full article: http://www.greenbiz.com/blog/2013/04/12/european-banks-wa...

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