Investors look at carbon cost for oil reserves

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NORTH AMERICA - Oil companies should be forced to factor in the carbon cost of extracting future reserves when reporting, according to a letter delivered to the Securities and Exchange Commission (SEC).

The letter, signed by some 19 investors, including the US$232bn California Public Employees' Retirement System (CalPERS) and the $160bn California State Teachers' Retirement System, and supported b...

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