20 Apr '12, 9am

10 reasons not to drill in the Arctic, according to world's top risk assessors @lloydsoflondon #savethearctic

10 reasons not to drill in the Arctic, according to world's top risk assessors @lloydsoflondon #savethearctic

Last week, Lloyd’s of London - the world’s leading insurer which sets the global standard for risk assessment - released a report warning investors not to rush in and invest in Arctic drilling. Looking at the industrial onslaught that is likely to hit the Arctic as the sea ice melts, the report covers the environmental impacts and financial risks of industrial fishing, shipping and mining. But it's most scathing on oil drilling, and in particular of the ability of oil companies to clean up after a major spill. So I’ve put together a list of 10 reasons from the Lloyd’s report on why it’s not a great idea to drill for oil in the Arctic – in Lloyd’s own words. 1. Industrialisation will destroy vulnerable ecosystems “It is highly likely that future economic activity in the Arctic will further disturb ecosystems already stressed by the consequences of climate change. Migration ...

Full article: http://www.greenpeace.org.uk/blog/climate/10-reasons-why-...

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