Letter to ISSB on Sustainability- and Climate-related Disclosures

02 August 2022

The International Sustainability Standards Board’s Exposure Drafts “IFRS S1 General...

Ukraine FAQs

Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a...

Double or Nothing: How regulators are gambling on the future self-interest of large oil and gas companies to decommission the Gulf of Mexico’s aging infrastructure

The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in...

CA100+ a long way from destination

None of the CA100+ focus companies within upstream oil & gas production or coal & gas-powered...

Ukraine FAQs

20 June 2022

Fossil fuel commodity prices are likely to remain volatile with the prospect for further...

Double or Nothing: How regulators are gambling on the future self-interest of large oil and gas companies to decommission the Gulf of Mexico’s aging infrastructure

The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in...

Measuring oil and gas revenues per tonne of CO2e

Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,”...

Race to the Top: Internalising oil and gas retirement costs

Compared to other large oil and gas producing states, California and Ohio rank last in forcing the closure of...

Letter to ISSB on Sustainability- and Climate-related Disclosures

02 August 2022

The International Sustainability Standards Board’s Exposure Drafts “IFRS S1 General...

Letter to the SEC on Climate Change Disclosures

Recently, we submitted a letter in response to the Securities and Exchange Commission’s (SEC) Public Input...

A Tale of Two Share Issues: How fossil fuel equity offerings are losing investors billions

The value of share offerings in fossil fuel producing and related companies dropped by $123 billion in the...

The Impair State: The Paris Agreement starts to impact oil & gas accounting

The oil industry’s financial statements reflect climate change conflict Oil and gas companies have never...

CA100+ a long way from destination

28 March 2022

None of the CA100+ focus companies within upstream oil & gas production or coal &...

Is Biden’s Bill the High-Water Mark on Climate?

After months of legislative negotiations, the $1.2 trillion Infrastructure bill made it through Congress and...

Can you see stranded assets through the SMOG?

In the run up to COP 26 many oil and gas companies have announced ‘net-zero by 2050’ targets. However,...

The mom and pop oil company

As the Colorado Oil and Gas Conservation Commission (COGCC) weighs competing demands of protecting the state...

Climate Change and the First Rule of Italian Driving

26 July 2018

Guest Blog from Greg Rogers, Co-founder, Eratosthenes LLC In a classic scene from the...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

17 September 2022

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

EU Coal: The Good, The Bad & The Ugly

We are writing this report because retiring coal is the fastest route to decarbonisation and alignment with...

Corporate Profile – CLP Holdings Limited

CLP Holdings Limited (CLP) has a commitment to achieve net zero emissions by 2050. However, we do not think...

Ukraine FAQs

20 June 2022

Fossil fuel commodity prices are likely to remain volatile with the prospect for further...

Stop Fuelling Uncertainty: Why Asia should avoid the LNG trap

The risks associated with gas infrastructure investment have never been higher This report continues our...

Put Gas on Standby

Unabated gas plants’ future role in the power system should be predominantly limited to backup reserve to...

Do Not Revive Coal: Planned Asia coal plants a danger to Paris

Renewables continue to increase their cost competitiveness versus coal, with 27% of the global coal fleet...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

17 September 2022

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

EU Coal: The Good, The Bad & The Ugly

We are writing this report because retiring coal is the fastest route to decarbonisation and alignment with...

Corporate Profile – CLP Holdings Limited

CLP Holdings Limited (CLP) has a commitment to achieve net zero emissions by 2050. However, we do not think...

Indonesia to replace one fifth of coal fleet with renewable energy

03 February 2020

According to Carbon Tracker analysis, Indonesia has 15 coal-fired plants (6.4 GW) aged...

SSE aligns with Carbon Tracker’s Paris-compliant methodology for coal power

In November, SSE confirmed that its remaining hard coal units at Fiddler’s Ferry power plant in the UK...

Iberdrola aligns with Carbon Tracker’s Paris-compliant methodology for coal power

Iberdrola announced at the opening of the United Nations Framework Convention on Climate Change (COP25)...

The Impact of West Virginia v. EPA

12 July 2022

On June 30, the U.S. Supreme Court ruled that the EPA does not have authority, under the...

Deep Dive on West Virginia v. EPA

Today the Supreme Court hears oral arguments in the case of West Virginia v. EPA. The case centers on the...

Chinese coal industry patch-up should not encourage new investment

The Chinese government has been sending mixed messages on its long-term climate ambitions once again On...

South Korea must take opportunity to end coal power and accelerate renewables build-out by 2028

Ending the use of coal for power generation in South Korea by 2028 is not only possible but also the most...

Corporate Research: PGE – Urgency needed, especially for renewables

17 September 2022

PGE PGE’s planned transition to net zero is not aligned with the goals of the...

Corporate Research: Uniper SE – Restructuring due but let’s not forget decarbonisation

Uniper SE Uniper’s transition to net zero is not aligned with the goals of the Paris Agreement. ...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the Paris Agreement. ...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

Corporate Research: PGE – Urgency needed, especially for renewables

17 September 2022

PGE PGE’s planned transition to net zero is not aligned with the goals of the...

Corporate Research: Uniper SE – Restructuring due but let’s not forget decarbonisation

Uniper SE Uniper’s transition to net zero is not aligned with the goals of the Paris Agreement. ...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the Paris Agreement. ...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

Shell’s Energy Transition Progress Report: Still lacking absolute emissions Scope 3 interim targets

06 May 2022

Shell recently published its first Energy Transition Progress Report. The document has...

Shell and Third Point: Spinning (Off) the Sector

Third Point, the US activist hedge fund, has recently proposed a significant change to the corporate...

Feet to the Fire: An analysis of potential outcomes of the Colorado 700-Series Rulemaking

07 September 2022

Colorado’s new financial assurance rules will help mitigate orphan well risk, but the...

Why drilling for more fossil fuels won’t bring UK energy security or cut prices

The UK’s energy security strategy is back at the forefront of political debate. As the government looks...

Event Horizon: A Case Study of Holdback and the Point of No Return for Decommissioning Upstream Oil and Gas “Assets”

When oil companies defer saving for asset retirement obligations (AROs), the liabilities...

A magical CCUS unicorn will not save the oil industry

But it might just save the world North American oil and gas companies are going big on carbon capture,...

Unburnable Carbon: Ten Years On

23 June 2022

Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy...

Ukraine FAQs

Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a...

Double or Nothing: How regulators are gambling on the future self-interest of large oil and gas companies to decommission the Gulf of Mexico’s aging infrastructure

The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in...

Measuring oil and gas revenues per tonne of CO2e

Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,”...

Feet to the Fire: An analysis of potential outcomes of the Colorado 700-Series Rulemaking

07 September 2022

Colorado’s new financial assurance rules will help mitigate orphan well risk, but the...

Event Horizon: A Case Study of Holdback and the Point of No Return for Decommissioning Upstream Oil and Gas “Assets”

When oil companies defer saving for asset retirement obligations (AROs), the liabilities...

Absolute Impact: Why Oil and Gas Companies Need Credible Plans to Meet Climate Targets

Oil and gas companies are still failing to commit to the absolute emissions reductions necessary to link...

Managing Peak Oil: Why rising oil prices could create a stranded asset trap as the energy transition accelerates

Firms can avoid wasting $500bn with managed approach to transition in Inevitable Policy Response scenario...

Shell’s Energy Transition Progress Report: Still lacking absolute emissions Scope 3 interim targets

06 May 2022

Shell recently published its first Energy Transition Progress Report. The document has...

Shell and Third Point: Spinning (Off) the Sector

Third Point, the US activist hedge fund, has recently proposed a significant change to the corporate...

Australian oil and gas mergers: Exposing the weakness of company transition planning

Mergers and acquisition (M&A) activity is shaking up the Australian oil and gas sector. In two...

When fracking stops, who will plug Colorado’s wells?

When a well is drilled, a legal obligation to plug the well and reclaim the surface is created This is a...

Why drilling for more fossil fuels won’t bring UK energy security or cut prices

02 September 2022

The UK’s energy security strategy is back at the forefront of political debate. As...

A magical CCUS unicorn will not save the oil industry

But it might just save the world North American oil and gas companies are going big on carbon capture,...

Oil giant Aramco still doing minimum to tackle emissions

In June, Saudi Aramco published its first ever Sustainability Report, containing details of its "net zero by...

In Colorado, Amnesty for Oil Producers, Plugging Costs for the State

With respect to asset retirement obligations in the oil patch, every regulator has to answer three...

IEEFA Update: Oil and gas industry caught in a capex conundrum

16 November 2018

This blog originally appeared on the IEEFA website By Tom Sanzillo, Kathy Hipple and...

BP’s Dudley doomed to repeat past mistakes as oil rises

By Paul Spedding BP chief executive Bob Dudley is at risk of being branded an altruist if his “Oil and...

Europe’s dash for LNG makes case against Asian gas investment stronger

06 September 2022

This year has seen the fundamental dynamics of global energy markets turned completely on...

Unburnable Carbon: Ten Years On

Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy action on climate and...

Ukraine FAQs

Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a...

Double or Nothing: How regulators are gambling on the future self-interest of large oil and gas companies to decommission the Gulf of Mexico’s aging infrastructure

The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in...

Unburnable Carbon: Ten Years On

23 June 2022

Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy...

Ukraine FAQs

Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a...

Double or Nothing: How regulators are gambling on the future self-interest of large oil and gas companies to decommission the Gulf of Mexico’s aging infrastructure

The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in...

Stop Fuelling Uncertainty: Why Asia should avoid the LNG trap

The risks associated with gas infrastructure investment have never been higher This report continues our...

Poland’s Energy Dilemma: New gas power traps taxpayers in a costly future

10 February 2022

Poland is approaching a key point in determining the future direction of its power system...

They only fill when they drill

Financial assurance requirements are universally considered to be too low to pay for plugging and abandoning...

Absolute Impact 2021: Why oil and gas ‘net zero’ ambitions are not enough

Oil and gas companies are increasingly announcing new climate goals as they seek to maintain a social licence...

End in Sight: How South Korea can force coal offline by 2028

A cost-optimized analysis for a renewables investment schedule for South Korea shows that a more ambitious...

Shell and Third Point: Spinning (Off) the Sector

06 December 2021

Third Point, the US activist hedge fund, has recently proposed a significant change to...

Australian oil and gas mergers: Exposing the weakness of company transition planning

Mergers and acquisition (M&A) activity is shaking up the Australian oil and gas sector. In two...

When fracking stops, who will plug Colorado’s wells?

When a well is drilled, a legal obligation to plug the well and reclaim the surface is created This is a...

North Dakota P&A cost data is bad news for the taxpayers in oil-producing states

Summary As the Colorado Oil and Gas Conservation Commission’s (COGCC) seeks to fulfill its statutory...

Europe’s dash for LNG makes case against Asian gas investment stronger

06 September 2022

This year has seen the fundamental dynamics of global energy markets turned completely on...

Clean energy can help undermine Russia and strengthen Europe

Russia’s unprovoked invasion of Ukraine has created terrible consequences for those living inside Ukraine,...

Tackling the Methane problem: why investors should drive change at investee companies

To keep 1.5°C alive, immediate action on methane emissions is required from the oil and gas industry, with...

Colorado Oil and Gas Looking to Have its Cake and Eat it Too

In January, the Colorado Oil and Gas Conservation Commission (COGCC) will vote on the new financial assurance...

IEEFA Update: Oil and gas industry caught in a capex conundrum

16 November 2018

This blog originally appeared on the IEEFA website By Tom Sanzillo, Kathy Hipple and...

Ukraine FAQs

20 June 2022

Fossil fuel commodity prices are likely to remain volatile with the prospect for further...

Out of the frying pan and into the fire: the heat is building on climate adaptation

As temperatures accelerate towards 1.5˚C, near-term actions that limit global warming would reduce losses...

Jordan Peterson has spoken to conservative groups such as Turning Point USA.

Why Jordan Peterson Should Think Again on the Energy Transition

On a recent episode of Joe Rogan’s controversial and highly influential podcast, Canadian psychology...

Opinion: Liberalisation and decarbonisation are a recipe for volatility

Market-based pricing for gas saved EU consumers billions – until this winter's energy crunch came along....

Ukraine FAQs

20 June 2022

Fossil fuel commodity prices are likely to remain volatile with the prospect for further...

Reach for the Sun: The emerging market electricity leapfrog

Fossil fuel electricity generation has peaked worldwide as emerging market countries seize the opportunities...

The Sky’s the Limit: Solar and wind energy potential is 100 times as much as global energy demand

Solar and wind potential is far higher than that of fossil fuels and can meet global energy demand many times...

Annual Review 2019

Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy...

Spiralling Disruption: The feedback loops of the energy transition

05 August 2021

The fossil energy system is falling over the edge of the demand cliff. 2019 was likely...

Can a virus and viral ideas speed the world’s journey beyond fossil fuels?

Smart investments and viral ideas in pandemic recovery and contagious new tools for deeper, cheaper energy...

Nothing to lose but your chains: The emerging market transport leapfrog

Falling battery prices and the decarbonisation of transport systems in emerging markets will reduce...

The Future’s Not in Plastics: Why plastics demand won’t rescue the oil sector

The oil and petrochemical industries are betting their future growth prospects on demand for plastics. But...

Out of the frying pan and into the fire: the heat is building on climate adaptation

28 February 2022

As temperatures accelerate towards 1.5˚C, near-term actions that limit global warming...

Why Jordan Peterson Should Think Again on the Energy Transition

On a recent episode of Joe Rogan’s controversial and highly influential podcast, Canadian psychology...

Opinion: Liberalisation and decarbonisation are a recipe for volatility

Market-based pricing for gas saved EU consumers billions – until this winter's energy crunch came along....

Tackling the Methane problem: why investors should drive change at investee companies

To keep 1.5°C alive, immediate action on methane emissions is required from the oil and gas industry, with...

Opinion: Liberalisation and decarbonisation are a recipe for volatility

03 February 2022

Market-based pricing for gas saved EU consumers billions – until this winter's energy...

State of The Transition, November 2016: Steps forward continue to outnumber steps back, notwithstanding the Trump election. But.

Guest post by Jeremy Leggett, Non-executive chairman of Carbon Tracker The global energy...

Corporate Research: PGE – Urgency needed, especially for renewables

17 September 2022

PGE PGE’s planned transition to net zero is not aligned with the goals of the...

Corporate Research: Uniper SE – Restructuring due but let’s not forget decarbonisation

Uniper SE Uniper’s transition to net zero is not aligned with the goals of the Paris Agreement. ...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the Paris Agreement. ...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

Ukraine FAQs

20 June 2022

Fossil fuel commodity prices are likely to remain volatile with the prospect for further...

Do Not Revive Coal: Planned Asia coal plants a danger to Paris

Renewables continue to increase their cost competitiveness versus coal, with 27% of the global coal fleet...

Annual Review 2019

Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy...

How to Retire Early: Making accelerated coal phaseout feasible and just

Although coal has long been viewed as the cheapest way to power the global economy, this is no longer the...

Corporate Research: PGE – Urgency needed, especially for renewables

17 September 2022

PGE PGE’s planned transition to net zero is not aligned with the goals of the...

Corporate Research: Uniper SE – Restructuring due but let’s not forget decarbonisation

Uniper SE Uniper’s transition to net zero is not aligned with the goals of the Paris Agreement. ...

Corporate Research: RWE AG – Talking the talk, but will need to walk the walk

RWE AG RWE’s transition to net zero is not fully aligned with the goals of the Paris Agreement. ...

Corporate Research: CEZ a.s – Restructuring due; urgent need for renewables

CEZ a.s CEZ’s transition to net zero by 2040 is not fully aligned with the goals of the Paris...

Indonesia to replace one fifth of coal fleet with renewable energy

03 February 2020

According to Carbon Tracker analysis, Indonesia has 15 coal-fired plants (6.4 GW) aged...

SSE aligns with Carbon Tracker’s Paris-compliant methodology for coal power

In November, SSE confirmed that its remaining hard coal units at Fiddler’s Ferry power plant in the UK...

Iberdrola aligns with Carbon Tracker’s Paris-compliant methodology for coal power

Iberdrola announced at the opening of the United Nations Framework Convention on Climate Change (COP25)...

South Africa Needs Significantly More Money to Help Phase Out Coal

15 December 2021

We welcome the recent announcement that South Africa has struck a deal to access...

South Korea must take opportunity to end coal power and accelerate renewables build-out by 2028

Ending the use of coal for power generation in South Korea by 2028 is not only possible but also the most...

COP26: A chance to reset and eliminate obstacles – coal in sights

2021 is a year of opportunity; one of resetting, reshaping and a chance to remove distortions that hinder an...

Measuring and managing energy transition risk in the Philippines

As part of a UK government-funded project to support the Philippines power sector stakeholders navigate the...

The Impact of West Virginia v. EPA

12 July 2022

On June 30, the U.S. Supreme Court ruled that the EPA does not have authority, under the...

Annual Review 2019

Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy...

Carbon Countdown: Prices and Politics in the EU-ETS

Market counts down to the MSR The EU carbon market has been the hottest commodity market in the world over...

Dispatch dogfight: will the EU ETS put gas in the money in 2018?

Since the start of the year, EU carbon has doubled in value, raising the possibility of coal to gas switching...

Annual Review 2019

29 July 2020

Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to...

Carbon Countdown: Prices and Politics in the EU-ETS

Market counts down to the MSR The EU carbon market has been the hottest commodity market in the world over...

Carbon Clampdown: Closing the Gap to a Paris-compliant EU-ETS

Closing the Gap to a Paris-compliant EU-ETS Carbon pricing, whether via cap-and-trade schemes or taxes, is...

Dispatch dogfight: will the EU ETS put gas in the money in 2018?

08 June 2018

Since the start of the year, EU carbon has doubled in value, raising the possibility of...

The Impact of West Virginia v. EPA

12 July 2022

On June 30, the U.S. Supreme Court ruled that the EPA does not have authority, under the...

Carbon Tracker’s Christmas Cracker 2017

If you read just one thing this year…… first, it’s December! What took you so long?......second,...

Aligning capital market actions with climate reality

Our Research