An investor coalition managing over €1 trillion is urging the European Union to maintain its ban on Arctic oil and gas exploration.
Six new members, including Swedbank Robur Fonder AB and Sarasin & Partners LLP, recently joined the group's open letter. The coalition demands the EU uphold its opposition to new production ahead of a revised policy presentation this summer.
This development increases pressure on ConocoPhillips and its Willow project in Alaska. Growing global sentiment against fossil fuel expansion in sensitive regions may influence the company's future investment decisions and regulatory landscape.