Sentences with phrase «stranded 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.

This sentiment has been ratified, sanctified, and tallied by the political, moral, and financial bellwethers of our time, from the Paris climate talks (195 countries committed to phase out fossil fuels this century) to the vatican (Pope Francis has made moral invocations to drastically reduce use of fossil fuels in the encyclical Laudato Si») to the Bank of England (the bank's governor Mark Carney has warned not to get stuck holding a bag of stranded fossil fuel assets).

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 London.

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).

The markets today are in a carbon bubble, because they ignore future stranded fossil fuel assets.

Potentially stranded fossil fuel assets are largely why responsible climate risk management is being opposed today by fossil fuel companies and libertarian right - wing forces.

Not exact matches

Those clinging to the old ways may find themselves stranded, just like fossil fuel assets.

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.

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

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.

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.

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.

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.

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

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.

Third, sociopolitical pressures (e.g., fossil - fuel divestment campaigns, environmental advocacy, grass - roots protests and changing public opinion) could create an environment in which carbon - intensive businesses could lose their «license to operate,» thereby stranding assets.

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.

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.

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.

«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.

Fossil fuel companies facing a future with stranded carbon assets, powerful contrarian ideologues, and right - wing media spreading climate disinformation remain major obstacles to progress.

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.»

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 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.

Says the report: «Increasingly, worldwide regulations are leaving fossil fuel investments as stranded assets with pension funds heeding the call to divest from fossil fuels and invest in green technologies.

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.

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.

The US has the greatest financial exposure, with $ 412 billion of unneeded fossil fuel projects to 2025 at risk of becoming stranded 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.

Shell has previously dismissed those, such as Bank of England governor Mark Carney, who have warned that fossil fuel assets could become stranded and worthless in the face of climate action.

They are increasingly facing resistance from governments concerned about pollution and climate change; the United Nations is taking the position that fossil fuels must be put out of business over the next thirty years or so, which will reduce their revenues by hundreds of billions of dollars every year, and the simultaneous loss in stranded assets is calculated to be up to $ 100 trillion.

It seems to me inflation is zero to minimal if you do not compensate fossil fuel interests against stranded assets.

Not only will you have stranded assets in fossil fuels you will have «mass stranding of existing vehicles».

The argument for CCS is that if we can capture and sequester the emissions from these fossil fuel reserves, then we can tap them; we can deal with the climate crisis yet avoid these assets being stranded.

Further analysis has identified the fossil fuel reserves and resources at risk of becoming economically «stranded assets» due to a low - carbon energy transition.

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

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».

One of those potential risks with severe financial consequences is the concept of stranded assets, which has become particularly intertwined with yet - unused carbon assets and fossil fuels.

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.

«Some of our stakeholders are concerned about the future of our fossil fuel reserves; in particular that they may become stranded assets,» Glasenberg wrote.