The extraction of shale gas, which aims to break up the sediments using high-pressure water in a process known as hydraulic fracturing or “fracking”, gained notoriety in the UK last year when two earthquakes struck Blackpool in England’s north west, close to where some fracking was taking place.

The process is banned in France and has been temporarily halted in New York State and the Province of Quebec while the local governments assess the risks. But the political will to find alternative sources of energy is so great that these examples are exceptional. As a result, investors say it is up to them to make sure companies are paying due attention to the environmental impact of their shale gas activities.