Mounting pressure on big oil

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There is pressure mounting on large companies to increase transparency of their environmental damages. Pressure is coming from three places, consumers, investors and other companies. Just recently, Whole Foods, which drives over 21 million miles a year, has decided to boycott tarsands produced oil (article here).

Recently I visited many Canadian companies websites to see who is ISO 14001, but one interesting thing struck me – at least 80% of companies now have a page dedicated to their environmental work or policies on their site. This is rather new and quite promising, companies seem to understand that strong environmental stewardship is becoming part of daily business activities.

Another major source of pressure is investor groups – notably ethical and pension funds. A good outline of various “green” investors was done at the Davis blog here. As we all know, money talks; if major funds are requesting greater environmental transparency then companies will have to take this seriously.