Sentences with phrase «on fossil fuel assets»

Not exact matches

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.»

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

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.

State Street Corp.'s asset management arm on Wednesday launched its first fossil - fuel free exchange - traded fund, citing investors» concerns over climate change.

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.

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.

Stranded carbon assets include fossil fuels, as well as those assets which, given their dependence on fossil fuels, are also CO2 - emissions intensive.

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 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.

If we truly begin taking action on climate change when it's needed (or rather ten years ago when it was needed) then all fossil fuels and much industrial plant become stranded assets.

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.

«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.»

For example, the UK has as much Australian coal listed on it as the ASX and recently pressure has been rising on the Financial Policy Committee to mitigate the risk these «sub-prime» fossil fuel assets pose to economic stability.

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.

The survey responses predict a decline in asset values based on damage to company reputations, litigation losses, and regulation to curtail «fossil fuel pollution.»

Jeremy Grantham, a billionaire fund manager who oversees $ 106bn of assets, said his company was on the verge of pulling out of all coal and unconventional fossil fuels, such as oil from tar sands.

Other options include the transfer of IMF - created «special drawing rights» (reserve assets created by the International Monetary Fund that countries can exchange for hard currency) from rich to poorer countries, redirecting harmful fossil - fuel subsidies, reducing spending on ballooning military budgets, and taxing aviation and shipping.

We have an agreement between every country in the world to have a dramatic shift away from the use of fossil fuels, and yet still fossil fuel companies dominate our stock exchanges, and on the basis that they're going to utilise all of the assets, all of those oil and gas reserves, which we absolutely can't burn.

This has fed into their thinking on assessing the «carbon bubble» and «stranded asset» risks of fossil fuel companies.

Last year, he pledged to divest all his personal assets from fossil fuels (as well as his foundation's assets) because «we must transition to a clean energy economy that does not rely on fossil fuels.»

On average fossil fuels only represent between 1 % to 4 % of the big banks» assets.

Formerly owned by E.ON, one of the largest investor - owned utilities in the world, the parent company had bundled most of its older fossil - fueled assets into Uniper to concentrate on renewables.

The United Church of Canada voted to sell off fossil fuel assets worth $ 5.9 million and instead pump funds into renewable energy co-operatives in a landmark decision on Aug. 11.

With the energy sector showing signs of profound, disruptive change, and with the former chairman of Duke Energy arguing that a price on carbon is inevitable, investors are rightly spooked by the prospect of a carbon bubble — whereby fossil fuel assets become stranded because they either can't be exploited due to climate concerns, or clean energy alternatives simply squeeze them out of the marketplace.

Any move by the Norwegian wealth fund to offload its fossil fuel assets would send shockwaves around global markets, given that the fund, itself built on the country's offshore oil and gas revenues, holds an estimated 1.3 per cent of global market capitalisation.

On the risk side, divesting is about not getting stuck holding stranded fossil fuel assets that can not be burnt if the world is to adhere to a given carbon budget, a topic on which Mark Carney, governor of the Bank of England, has expressed concerns in a landmark speech to global insurer Lloyd's of LondoOn the risk side, divesting is about not getting stuck holding stranded fossil fuel assets that can not be burnt if the world is to adhere to a given carbon budget, a topic on which Mark Carney, governor of the Bank of England, has expressed concerns in a landmark speech to global insurer Lloyd's of Londoon which Mark Carney, governor of the Bank of England, has expressed concerns in a landmark speech to global insurer Lloyd's of London.

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.

The fossil fuel industry was deeply «unsettled» by comments from energy secretary Ed Davey raising the prospect that their assets could be rendered worthless by global action on climate change, according to a letter of protest sent to the secretary of state.