First Nation Takes Fight With Oil-Sands Giant to Shareholders – Energy Now

April 30, 2024

An indigenous community in Alberta’s oil-sands region submitted a proposal to Imperial Oil Ltd. shareholders that would require the company to disclose the financial effect of the energy transition.

Athabasca Chipewyan First Nation’s proposal, scheduled to be voted on Tuesday at Imperial’s shareholder meeting, would require the company to determine the effects of different transition scenarios on its asset-retirement obligations, including future reclamation costs. The proposal is being made on behalf of shareholder Leanne Baer.

The proposal was drafted after wastewater seeped from a tailings area and a wastewater pond in May 2022 and February 2023 at Imperial’s Kearl oil-sands mine. Local indigenous communities criticized the company for failing to adequately disclose the nature of the spills until months after the first incident.

The leak and Imperial’s response “raise serious questions about Imperial’s ability to manage the risk of long-liability assets like tailings ponds as well as its commitment to transparency,” according to the proposal.

Read More: https://energynow.ca/2024/04/first-nation-takes-fight-with-oil-sands-giant-to-shareholders/