Investors urge fossil fuel firms to shun Trump's Arctic drilling plans

Oil extraction in Alaskan wilderness area would be an 'irresponsible business decision', trillion-dollar investors say

Investors managing more than $2.5tn have warned oil firms and banks to shun moves by the US president, Donald Trump, to open the Arctic national wildlife refuge (ANWR) to drilling.

Companies extracting oil and gas from the wilderness area in Alaska would face "enormous reputational risk and public backlash", the investors say in a letter sent on Monday to 100 fossil fuel companies and the banks that finance them.