Friday 9 March 2018

Ignoring Climate Change Makes no Business Sense

Written by Sublime Team

Ignoring Climate Change Makes no Business Sense

New report by Carbon Tracker Initiative reveals that energy firms risk wasting $1.6 trillion by ignoring low-carbon transition

A new report, Mind the Gap: the $1.6 trillion energy transition risk, by Carbon Tracker Initiative compares fossil fuel demand in a 1.75˚C world with demand in 2˚C, and 2.7˚C scenarios.

Oil, gas and thermal coal face varying challenges and degrees of risk in a climate-constrained future. This report looks at each of these fuels in turn with a focus on the upstream end of the value chain, comparing potential supply to a selection of different demand scenarios that result in varying global warming outcomes.

The report finds that fossil fuel companies risk wasting $1.6 trillion of expenditure by 2025 by basing their business decisions on governments’ current climate policies instead of the Paris Agreement.

Although at present governments’ policies fall short of the ultimate goal of the Paris Agreement, we should expect a ratcheting up of international efforts. Investors could face losses in the future from stranded assets if fossil fuel companies overinvest based on a false sense of security.

The study updates their 2 Degrees of Separation, report and is the first to look at demand for fossil fuels in a 1.75˚C world.

Download the report

Sign up to our newsletter

captcha 
Since 2007 Sublime rewards business that can be trusted by customers with the Sublime Brand endorsement badge.… https://t.co/j1XauJPWeL
4hretweetfavorite
Sublime Recommends:C&A Foundation @CandAFund @GCC_ECOAGE https://t.co/eY8nrxOR0r
4hretweetfavorite
@CandAFund @FashionforGood @GCC_ECOAGE ⭐️⭐️⭐️⭐️⭐️ https://t.co/Ao88F4nCgP
4hretweetfavorite
RT @LiorSteinberg: Finally sat down and finished @modacitylife’s book! What a pleasure. A must read for urbanists and politicians around th…
4hretweetfavorite