ESG attack on COP for buying SurmontNo mercy.
>>>(Bloomberg) -- ConocoPhillips has been put on divestment watch by some of Europe’s biggest pension funds, after using proceeds from a recent debt financing to expand its business in oil sands. The Houston-based oil company obtained full control of the Surmont field in Alberta, Canada, this year, paid for with funds from three US dollar bond sales worth $2.7 billion. Aegon NV of the Netherlands, which oversees more than $300 billion, says ConocoPhillips might now be in breach of its tar sands policy and may be added to its exclusion list later this year. KLP, Norway’s biggest pension fund with about $90 billion in assets, says it’s also monitoring the oil producer after the Surmont deal.
https://www.bnnbloomberg.ca/conoco-deal-triggers-divestment-alert-from-pension-investors-1.1962618