A slow transition to a low-carbon future and failure to take urgent action on climate risks stranding more than a trillion dollars in oil and gas projects, according to a new study out from financial think tank Carbon Tracker Initiative.
The groups fifth annual analysis of the risk of investing in oil and gas reveals the worlds largest energy firms continue to invest in major projects for fossil fuel exploration inconsistent with the goals of the Paris Agreement and declining demand. Rapid declines in production long-term could deliver serious shocks to company valuations and elevate insolvency risk, according to the author of the report.
[Oil majors] are continuing to sanction projects that just do not fit in a low carbon world. We fin…Read the full article at: https://au.finance.yahoo.com/news/oil-majors-risk-insolvency-with-slow-climate-action-report-133958445.html
