But the oil sands have become a focus of global criticism because of the industry's heavy environmental and social impacts - impacts that can generate a complex of litigious, regulatory, policy and social license risks to company value. Investors can manage risk and contribute to corporate change by engaging the companies they own, but to do so effectively, they need to understand the sector risks, and how they apply to specific companies.

This report presents key findings from oil sands sector benchmarking research conducted by the Sustainability Department at Northwest & Ethical Investments L.P., with support from the National Union of Public and General Employees and Ceres.

Citation: de Cordova, M & Bonham, J (November 2009) Lines in the Sands: Oil Sands Sector Benchmarking, Northwest & Ethical Investments L.P./Ceres/NUPGE