Shareholder activists are pointing the way to greater environmental responsibility by gas drillers.
By Sanford Lewis, Attorney
Natural gas often is touted as a bridge fuel, leading a transition to cleaner energy sources. But recently it also has a lot of attention for the extraction practice known as “hydraulic fracturing” or “fracking,” which has stirred environmental controversy and threatens to undermine its growth as an energy source. Under pressure from investors and environmentalists, some of the smaller independent energy companies have begun to improve disclosures and environmental precautions. In contrast, the energy giants Exxon Mobil and Chevron are more resistant and face resolutions in their upcoming shareholder meetings. Can they learn from the best practices of the independents?