Letter from ClientEarth to 17 banks regarding the Cambo oil field

ClientEarth has written to the CEOs of 17 banks that provide financial and/or advisory services to Siccar Point and Royal Dutch Shell, the companies seeking approval to develop the Cambo oil field in the North Sea.  The letter raises the issue of how the banks’ provision of services to these companies is compatible with the banks’ net-zero commitments and best available science, the fiduciary

duties of their directors, their prudent management of climate risks, the banks’ broader legal and regulatory obligations, and shareholder expectations.