SHAREHOLDER RESOLUTIONS ON TAR SANDS

That this House notes that the extraction of tar sands produces on average three times the greenhouse gases of conventional oil, as well as causing deforestation and pollution which threatens the lives and livelihoods of indigenous communities; further notes the increasing concern among investors that tar sands investments are financially as well as environmentally unsustainable; believes that the continued expansion of tar sands extraction is incompatible with the emissions reductions needed to avoid catastrophic climate change; and therefore expresses the hope that the Parliamentary Contributory Pension Fund will vote in favour of shareholder resolutions requiring BP and Shell to report on the investment risks associated with their tar sands projects.