The San Francisco Employees’ Retirement System updated its restricted list of oil and gas companies according to the stipulations provided within its Climate Change Transition Framework. The changes see six companies from the list removed, due to them either having gone private, having been acquired or having improved their climate metrics to meet SFERS’s criteria.
APA Corporation, Continental Resources, Diamondback Energy, Hess Corporation, Matador Resources and PDC Energy have all been removed from the list of restricted oil and gas companies, while Baytex Energy Corp., Chesapeake Energy Corp. and Crescent Point Energy remain on the list.
PDC and Hess both were sold to Chevron in 2023, while Continental Resources became private when its founder Harold G. Hamm purchased the company for $4.3 billion in a cash deal.
Meanwhile, in the past year, APA Corporation, Diamondback Energy and Matador Resources improved their climate metrics to meet SFERS’s criteria.