The oil spill in the Gulf of Mexico strikes close to home for Chevron as it faces a $27 billion lawsuit brought on by the indigenous people in the Amazon region of Ecuador for water pollution, and a fresh Chevron oil spill in Utah, a bi-weekly analysis of companies in the news by ASSET4 data providers shows.
Company selections were made by Christopher Greenwald, director of data content at ASSET4, a Thomson Reuters business that provides investment research on the environmental, social and governance performance of major global corporations. These ratings are not recommendations to buy or sell.
Here is a breakdown of the companies that made headlines June 5 to June 18 for winning or losing credibility based on environment-related activity.
The recent news surrounding the creation of a $20 billion escrow fund to pay for claims in the Gulf of Mexico has led to renewed attention in the past weeks to the $27 billion case against Chevron brought by indigenous people in the Amazon region of Ecuador.
The lawsuit which has stretched on for nearly 17 years seeks reparations for environmental- and health-related damages caused by the dumping of over 18 billion gallons of polluted water in Ecuador by Texaco between 1964 and 1990. Last week two protesters were arrested during a House Energy Committee meeting after attempting to give a bottle of contaminated water from the Amazon region to Chevron’s Chairman John Watson.