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Shell blasted over oil plans, but analysts ignore environmental issues

Only 3% of City analysts believe environmental and social issues are important factors in judging company performance, according to a new survey.

The research, from Business in the Environment, came after Shell Oil’s annual general meeting was targeted last week by protesters over oil exploration in Bangladesh (above).

When asked to consider specifically non-financial indicators, only 9% felt environmental and social factors were important.

Derek Higgs, chairman of BiE, said: ‘The low priority given to these issues in the City contrasts with the increased priority within listed companies.’

The survey pinpointed an emerging gap between analysts’ attitudes on the environment and those of other City audiences.

But BiE, part of the Business in the Community charity, also criticised listed companies for failing to get their message across.

Higgs said: ‘Companies that have proved to themselves that environmental responsibility makes good business sense must show this clearly and in a way that makes sense to the City.’

Shell recently won an environmental reporting award from ACCA, one of the co-supporters of the BiE survey.

Further details of the report can be found at www.business-in-environment.org.uk.

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