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Oil giants involved in the exploitation of tar sand fields face calls this week to disclose future carbon liabilities. Co-operative Financial Services (CFS) and environmental charity WWF-UK are launching a campaign for a legal requirement for companies including Shell and BP to include this information in financial reporting.
The Co-op says tar sands activities threaten to create a new class of toxic investment that could push the financial system into deeper crisis, while WWF wants the UK to take the lead and make London the centre of green finance. Nearly
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