«By analysing the potential impact of future carbon constraints driven
by global climate change policies, our study shows a deterioration in the financial risk profiles for smaller oil companies that could lead to negative outlooks and downgrades,» said Michael Wilkins, head of environmental finance at Standard & Poor's.
The second warning comes from leading credit ratings agency Standard & Poor's, which in a report released on Monday predicts credit downgrades and negative outlooks in the oil sector because of the potential carbon constraints driven
by global climate change policies.
The world's largest publicly - traded oil company opposes a proposal requiring it to report on the risks to its business from new technologies and
global climate change policies, insisting it already provides the information.
The group's failure to agree is further evidence that international agreements on
a global climate change policy are stalling.»