U.S. drillers and refiners will likely need to report estimated greenhouse gas emissions from the cars, trucks, planes and ships that use their fuel if a rule proposed by U.S. regulators on Monday passes later this year, according to industry analysts.
Climate-conscious investors have long called for publicly traded companies to be transparent about the full impact of their businesses on global warming, which the investors view as a critical first step in improving the environmental effects of the companies' operations.
"For refiners and for a lot of the oil industry it will be hard to argue that Scope 3 isn't material," said Andrew Logan, senior director of oil and gas at Ceres, a Boston-based clean-energy investor group.
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