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FOR IMMEDIATE RELEASE

Enbridge Shareholders Worried About Oil Spills

Five shareholders representing ~$70,000 of Enbridge have partnered with Dogwood Initiative to file a shareholder proposal with Enbridge Inc. asking the company's Board to be more open with the unique risks and liabilities associated with the Gateway pipeline and marine tanker project
Enbridge Shareholders Worried About Oil Spills

After decades in court, Exxon has been instructed to pay a fee of $500 million for the damages caused by the 1989 Exxon Valdez oil spill. Photo courtesy of the Exxon Valdez Oil Spill Trustee Council.

Dec 05, 2008

Five shareholders representing approximately $70,000 have partnered with Dogwood Initiative to file a shareholder proposal with Enbridge Inc.,  asking the company's Board to investigate the unique risks and liabilities associated with the Company's proposed Gateway pipeline and marine tanker project for northern BC.

The shareholders are asking the Board to produce a report estimating the frequency and volume of oil and condensate spills that could result from their proposed Gateway project, and to assess the financial liabilities these could have for the Company over a range of scenarios.

"Dogwood Initiative has an ongoing and broad based campaign to achieve a ban on all bulk Tar Sands tankers through BC's north coast," says Eric Swanson, Dogwood's Corporate Campaigner. "Enbridge has yet to release a comprehensive assessment of the risk of spills along the tanker and pipeline route. This is of grave concern to some shareholders."

"I'm asking Enbridge to take a very close look at the issue of spills," says Peter Dent, one of the shareholders. There were over 13,000 barrels of product spilled on Enbridge's system last year, according to the company's most recent Corporate Social Responsibility Report. "If Gateway is built, there will be spills. A risk to the environment is a risk to my share value."

 

For more information contact:  Eric Swanson - Corporate Campaigner, Dogwood Initiative

250-370-9930 ext. 27

eric@dogwoodinitiative.org 

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