Sentences with phrase «of fossil fuel assets»

On the East Coast, the City of New York announced plans to divest its pension fund of fossil fuel assets, making it among the largest of investors to divest.

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.

He endorsed research by Carbon Tracker showing that US$ 2 trillion worth of fossil fuel assets are unburnable as governments aim to hold global warming to 2C.

The jump, according to the report, is partially driven by the following trends: ``... the write - down of fossil fuel assets; the inevitable wave of nuclear plants due to be retired; the exposing of hypothetical forecasts of 100 years of shale gas; and the decline of large, centralized electricity generation.»

Owners of fossil fuel assets That is why the deal is like a gigantic take - back scheme.

This means it is willing to admit that some of its fossil fuel assets — possibly including the spanking $ 13 billion Kearl tar sands project in Northern Alberta — could be wiped off its books if governments start taking action on climate change.»

Not exact matches

But having divested most of the family's fossil fuel assets in the late 1990s to set up private conglomerate Coril Holdings Ltd., Ron may not have been feeling the same pain as those in the audience.

The results add weight to warnings from analysts that fossil fuel assets are at risk of losing their value and becoming «stranded» as the world transitions to cleaner energy sources.

RBC Global Asset Management Inc. (RBC GAM Inc.) today announced the launch of the RBC Vision Fossil Fuel Free Global Equity Fund.

Marking the divestment movement's «undeniable success,» a new report shows the value of funds controlled by individuals and institutions who have vowed to dump their fossil fuels assets now surpasses $ 5 trillion.

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

New York State Attorney General Eric Schneiderman said his investigation is an inquiry into whether Exxon is overstating the value of its assets and oil reserves and understating the risks of using fossil fuels.

Gov. Andrew Cuomo is proposing that the massive state Common Retirement Fund stop new investments of pension assets in companies connected to fossil fuels.

ALBANY — Gov. Andrew M. Cuomo is proposing that the massive state Common Retirement Fund stop new investments of pension assets in companies connected to fossil fuels.

Moreover, Exxon Mobil expressed confidence that its oil and gas assets were unlikely to become stranded even under much tighter regulation of carbon emissions because the fossil fuels would be needed to grow the world's economies.

Furthermore, the relatively quick process of converting coal - fired plants to biomass - fired generation is an attractive benefit for power generators whose generation assets are no longer viable as coal plants due to the expiration of operating permits or the introduction of taxes or other restrictions on fossil fuel usage or emissions of GHGs and other pollutants.

Adopt a goal of requiring, or persuading, fossil fuel companies to disclose in their 10Ks and other filings the amount of carbon held for ultimate release on the asset side of their balance sheets, and the range of possible outcomes to their business if some of those assets are stranded.

Others have been scattered: The fossil - fuel divestment campaign we launched in 2012 has been active on every continent, incorporated a wide variety of tactics, and has become the largest anticorporate campaign of its kind in history, triggering the full or partial divestment of endowments and portfolios with nearly $ 5 trillion in assets.

The oil price collapse, which follows a drop in global coal prices, shows that the global fossil fuel sector is presently one of the world's riskiest asset classes.

At the United Nations COP21 climate conference of 2015, RBF was touting a new report that investors across the world with $ 3.4 trillion in assets have pledged to divest from fossil fuel companies.

This paper is designed to assist the TCFD members in assessing the «carbon bubble» concept and «stranded asset» risks inherent in the business - as - usual strategies of many fossil fuel companies.

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.

In the case of fossil fuels, the carbon bubble effect due to stranded assets has motivated some divestment activity, in addition to the ethical / survival concerns over increasingly serious climate impacts due to fossil fuels consumption.

Fear of stranded assets motivates fossil fuel companies to oppose responsible climate risk management and prop up climate science deniers

Once the financial impact of stranded assets are factored in, the carbon bubble will collapse with large financial consequences for fossil fuel companies and their owners.

Fossil fuel stock prices will plummet by approximately the fraction of stranded assets to total assets.

This hedging strategy will buffer the impact an extreme carbon risk event might have on a portfolio while potentially capturing the upside of the transition away from fossil fuel assets.

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.

The combination of needing to limit carbon dioxide emissions and having fossil fuel companies that are valued by their proven reserves is what Carbon Tracker, a non-profit organization, is calling the «Carbon Bubble» in their new report, «Unburnable carbon 2013: Wasted capital and stranded assets.»

The governor of the Bank of England, Canadian banker Mark Carney, warned repeatedly during 2014 that what he termed «stranded assets» are a growing risk for fossil - fuel companies.

Fossil fuel subsidies also increase the risk of investing in stranded assets, which need to be replaced before the end of their lifetime.

If public policy shifts to something closer to the 1,000 gigaton budget, there would be a lot of stranded assets and investors would get burned, as the fossil fuels would not.

He announced that in 2015 the Bank of England's Finance Policy Committee would investigate whether risks to the value of «unburnable» fossil fuels assets could undermine financial stability in the way that sub-prime mortgages crashed the global economy in 2008.

As such, investors can strand fossil - fuel energy assets today, or absorb the cost of inaction by causing a much larger stranding across industries and asset classes in the future.

Fossil fuel investments could become the «sub-prime assets of the future,» warned British energy secretary Ed Davey.

The assertion of a carbon bubble in fossil fuel assets ultimately depends on investor ignorance of climate - response risks, presumably because companies haven't quantified those risks for them.

Given the strictures on shareholder proposals, it's common for investor advocates to push not for specific changes, but for analyses of risk: asking companies to publicly measure their greenhouse gas emissions, to analyze the environmental impact of their global supply chains, or, in a strategy pioneered last year, to quantify their exposure to «stranded assets,» such as fossil fuel reserves that would exceed the world carbon budget.

In a world where carbon emissions will increasingly have to be constrained, coal, as the dirtiest of the fossil fuels, is the energy asset most vulnerable to becoming «stranded» — the most vulnerable, in other words, to seeing its market value collapse well ahead of its previously anticipated useful life.

A group of 17 philanthropic groups including the Wallace Global Fund and John Merck Fund with a combined asset base of about $ 1.8 billion has vowed to divest from fossil - fuel companies and invest in clean - energy technology.

«Carbon Tracker has done so much to bring climate change into mainstream investor thinking and make financial markets aware of stranded asset risk in the fossil fuel industry.

According to IRENA's analysis, the risk of stranded assets is highest for the building sector: in its assessment of stranded assets, IRENA includes the construction value that would be lost due to the needed future renovation of building stock to avoid it relying on fossil fuels.

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.

«Right now there is half a trillion dollars a year being spent to come up with new fossil fuels — digging, mining — that may very well be stranded on top of the already stranded assets.»

This sentiment has been ratified, sanctified and tallied by the political, moral and financial bellwethers of our time from Paris (195 countries committing to phase out fossil fuels this century) to the Vatican (the Pope's moral invocations to drastically reduce use of fossil fuels), to the Bank of England (governor Mark Carney's prudent warnings not to get stuck holding a bag of stranded fossil fuel assets).

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.

American ice cream maker Ben & Jerry's has partnered with climate activism group 350.org Australia to launch a campaign to freeze fossil fuels investments, by encouraging Australians to lobby their local governing bodies to ensure that none of its assets are in coal, oil and gas.

The financial think - tank says the fate of US coal should serve as a warning to investors in other fossil fuel markets worldwide who fail to prudently read a structural shift away from hydrocarbons and blindly continue to invest in assets that are in increasingly in danger of becoming stranded.

It is no surprise that CCS is a technology favoured by fossil fuel companies; it extends the economic life of their assets in the ground, while providing them with a potential future source of revenue as they leverage their subsurface expertise.

As the transition to zero - carbon accelerates, many fossil - fueled power stations will have to be closed before they reach the end of their natural life, the IEA says, causing lost earnings and creating «stranded assets» that are worth less than expected by investors.