Saturday, January 22, 2011
Shareholder Groups Want Assurances on Hydraulic Fracturing
The Center has developed Hydraulic Fracturing Evaluation Criteria to rate projects. The Hydraulic Fracturing issue does not lend itself to taking a blanket position 'for' or 'against' the practice. As such, the Center has developed criteria for project by project determinations. The Center criteria are fairly rigorous, but if a company adheres to them, we believe it will go far in satisfying shareholder groups. In fact, some of our criteria include some of the same items included in the resolutions.
The shareholder groups include the New York state pension fund, Domini Social Investments, Trillium Asset Management and the Sisters of St. Francis of Philadelphia. The resolutions called on the companies to recycle waste water, disclose the type of chemicals used in the operations and lessen their toxicity.
Hydraulic fracturing has caught the attention of regulators and politicians. EPA is conducting a new study of the practice and its effects on groundwater. The Center presented a statement at the EPA hearings on hydraulic fracturing in April 2010. New York state placed a temporary moratorium on new fracking permits and lawsuits have been filed against operations in Pennsylvania. (Wash Post, 1/22/2011)