Sentences with phrase «more fossil fuel assets»

Scientists say the world is already behind the needed trajectory of emissions reduction to meet the Paris goal, and investments in more fossil fuel assets — scheduled to be in service for up to 40 years — could commit the world to see the most catastrophic consequences of climate change if they are not retired early.

Not exact matches

Today asset managers are more likely to screen out tobacco, weapons or fossil fuel companies, or companies with poor human rights records.

A small but growing number of countries now have legal requirements for institutional investors to report on how their investment policies and performance are affected by environmental factors, including South Africa and, prospectively, the EU.36 Concern about the risks of a «carbon bubble» — that highly valued fossil fuel assets and investments could be devalued or «stranded» under future, more stringent climate policies — prompted G20 Finance Ministers and Central Bank Governors in April 2015 to ask the Financial Stability Board in Basel to convene an inquiry into how the financial sector can take account of climate - related issues.37

Amalgamated, a left - leaning bank with roots in the labor movement that manages more than $ 40 billion in assets under management, said it would adopt new policies about lowering its exposure to the fossil fuel industry in its own investments and its loans.

In its response, Exxon denied that global society possesses the will to keep temperatures from increasing by more than two degrees Celsius, and therefore none of the fossil fuel reserves currently counted as assets will be left unburned.

When it does, more than $ 20 trillion worth of fossil fuel reserves will become stranded assets and the companies» value will plummet.

So the darker hopes arise — maybe a particularly furious El Niño or a «carbon bubble» where the financial markets realize that renewables have become more scalable and economical, leading to a run on fossil - fuel assets and a «generational crash» of the global economy that, through great suffering, buys us more time and forces change.

Meanwhile, IRENA estimates that the overall stranded asset risk doubles to more than $ 20tn if rapid decarbonisation of the energy sector is delayed to 2030 and fossil fuel investments continue to rise.

London, 19th April 2013 — Today new research by Carbon Tracker Initiative and the Grantham Research Institute on Climate Change and the Environment at London School of Economics and Political Science reveals that despite fossil fuel reserves already far exceeding the carbon budget to avoid global warming of more than 2 °C, $ 674 billion was spent last year finding and developing new potentially stranded assets.

Stern said that far from reducing efforts to develop fossil fuels, the top 200 companies spent $ 674bn (# 441bn) in 2012 to find and exploit even more new resources, a sum equivalent to 1 % of global GDP, which could end up as «stranded» or valueless assets.

If up to two thirds of fossil fuels can not be burned, investors in these projects risk being left with up to $ 2 trillion in «stranded assets», investments rendered valueless by a combination of rapid technological progress from renewables, more stringent climate policies and shifts in market sentiment.

In light of Carbon Tracker's «Wasted capital and stranded assets» analysis and the scale of unburnable fossil fuel assets it revealed, there is a clear need for markets to become more «climate literate».

The analysis finds that expanding fossil fuel reserves does even more damage than putting the global climate in danger; exploration financing by the World Bank risks locking developing countries into loan commitments for resources that will likely become stranded assets if policies are implemented to meet agreed climate goals.

State - owned Fortum, looking to acquire even more stable CHP facilities, just closed a multi-billion Euro deal in February to acquire the mostly - fossil - fueled assets of Germany's Uniper.

More broadly, companies across the energy industry that are heavily invested in fossil fuels increasingly have become a target for shareholder proposals, largely due to the potential emerging risk of fossil fuel's stranded assets.

Over the past five years, and growing dramatically leading up to and post-Paris COP 21, a movement of institutional and individual investors representing more than $ 3.4 tn in assets under management have divested a portion of their fossil fuel investments and committed to divesting the balance in the next five years.

In the fossil fuel industry, for example, the term increasingly used to signify the long - term risk associated with oil and gas that may become much more expensive to exploit is «stranded assets.»

California's two biggest pension funds lost more than $ 5 billion (U.S.) since June 2014 because of the declining value of their fossil fuel holdings, while Norway's massive sovereign fund, which has already divested many of its fossil fuel assets, still lost $ 40 billion between July and August, partly because of falling oil prices.

Norway's Storebrand, which holds more than $ 30 billion in assets, recently announced that it would exclude 13 coal and six oil sands companies from all investments «to reduce Storebrand's exposure to fossil fuels and to secure long - term, stable returns for our clients.»

As of December of 2016, investment funds worth more than $ 5 trillion have now committed to divesting their fossil fuel assets.

James Leaton, research director at think tank Carbon Tracker, which has led the analysis of stranded fossil fuel assets, said: «It is disappointing that Oil and Gas UK seems confused about how to rationalise tackling climate change and developing more oil and gas.