Shareholders push climate resolution on asset retirement obligations at Imperial Oil

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Athabasca Chipewyan First Nation pressuring the oil giant with motion requestingthe board provide an audited report estimating the financial effects of climate change

annual meeting, the latest step in its public pressure on the oil giant, which failed to tell the community about a leaking oil sands tailings pond for almost a year.in Northern Alberta into the environment for more than a year starting in May, 2022, but no local communities were told until a separate incident in February, 2023, spilled 5.3 million litres of wastewater.

Imperial posts regular updates on work under way to address industrial wastewater leaking from its site. In its April update, it said its focus is on expanding and improving its seepage interception system and monitoring network. That includes more than tripling the number of pumping and monitoring wells as part of plans to expand the system.“This is going out to all of industry, putting all of industry on notice,” he said in an interview.

“This is particularly the case for a company like Imperial, whose flagship asset – Kearl – is projected by the company to still be producing into the 2060s or even later,” it wrote. Providing the data would help rebuild trust with communities that are downstream of the oil sands operations, “whose goodwill is critical to the company’s license to operate,” ACFN said.

 

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