Campaigners seek an end to production of CO2-intensive ‘unconventional fuels’

Shell, BP and other oil companies at the centre of the tar sands revolution in Canada are facing a backlash from the Co-operative and other members of the ethical investment community determined to bring a halt to these operations for environmental reasons.

A joint report from Co-operative Investments and the wildlife charity WWF released today will be followed up in September by a meeting of the UK Social Investment Forum (UKSIF) to press for an end to this carbon-intensive activity.
The tar sands business, by which crude oil is produced through highly carbon and water-intensive extraction and treatment procedures, risks tipping the world into an irreversible process of global warming, critics claim.

The Co-op and WWF are calling for a global halt to new licensing for tar sands and similar oil operations known as “unconventional fuels”.

They want the UK and other countries to prohibit the sale and distribution of any oil products with higher emissions than traditional petrol.

The move comes as Shell and other industry leaders have pledged to spend more than $125bn (