Lack of diversity on boards of US oil firms 'increases risk' of bad investments

Oxford University study finds boards with fewer women and foreign nationals susceptible to making poor investment choices over risks like climate change

A "worrying" lack of diversity on the boards of major US oil companies increases the risks of "groupthink" and bad investment choices, according to a new report from the University of Oxford.

Fossil fuel companies are facing an increase in measures to cut carbon emissions as world leaders move to tackle climate change. A global deal to curb global warming at a crunch UN summit in Paris in December could leave $1tn of oil projects unable to make a return, or stranded, according to analyses.