Research
We carry out scenario analysis and research to examine and understand how potential changes to supply and demand will impact the future of fossil fuel-exposed companies and projects. This analysis helps the investment community better understand the financial implications of tackling climate change
Oil & Gas
Report
20 November 2025
Petro-Provinces at Risk
How oil- and gas-dependent Canadian provinces face fiscal strain as the energy transition progresses A number of Canadian provinces...
Oil & Gas
Report
20 November 2025
Fading Fortunes
True Oil & Gas Value in Canada and Beyond Despite a decline in the share of free cashflow allocated to upstream oil and gas...
Oil & Gas
Report
30 October 2025
Fuel Disclosure
Sustainable. Abundant. Feasible – why SAF is unlikely to be all three at once. Alternative jet fuels (AJF), often referred to as...
Oil & Gas
Report
31 October 2024
Turning Tides
As the energy transition accelerates, the oil and gas industry must contend with a shrinking market for its products. In response,...
Oil & Gas
Report
23 September 2024
Responsible Exit Principles for Oil and Gas Companies
Asset disposals are commonplace in the oil and gas industry, and M&A has long been a feature of the industry. Yet, as the energy...
Oil & Gas
Report
12 September 2024
Oil and Gas Least-Cost Methodology
Carbon Tracker Methodology In a series of reports since 2011, Carbon Tracker has explored the financial implications of the global...Popular Reads
Sorry. No data so far.
Investor Call to Action: FCA Consultation on New Disclosure Rules
Accounting, Audit, & Disclosure Report August 2024The FCA have just announced a Prospectus Review. Specifically, we draw your attention to a key section in the FCA’s...
Read More
Paris Maligned II: Climate alignment assessments reveal oil and gas company transition risk exposure The window of time to...
Read More
The UK Government’s CCUS strategy risks locking consumers into a high-cost, fossil-based future, despite cleaner and cheaper...
Read More
Crude Intentions II: How oil and gas execs are still incentivised to grow...
Oil & Gas Report February 2024As the energy transition continues to accelerate, demand for each of the fossil fuels is likely to peak before 2030. Oil and gas...
Read More
False Start: How Colorado’s bonding rules failed to increase coverage
Asset Retirement Obligation Report February 2024In March of 2022, the ECMC announced Colorado’s new financial assurance rules with much fanfare, referring to the Rules as the...
Read More
As a research provider, we conduct financial analysis and have developed a set of alignment assessments to help investors...
Read More
Private Eyes Wide Shut: Private Equity Investments in Oil and Gas at Risk...
Oil & Gas Report January 2024It is increasingly clear that the energy transition is well underway, with renewables substituting for oil and...
Read More
From Net Zero to New Zero – Reserves Estimates in a Decarbonizing...
Accounting, Audit, & Disclosure Report December 2023Oil and gas reserve classification systems today are focused on the value oil and gas has when burnt. Devised in the first part...
Read More
Strategies for oil and gas companies to respond to the substitution challenge of the energy transition There can be no...
Read More
California’s oil and gas producing resources have been in overall decline for nearly four decades, but the industry turned a...
Read More
In response to state regulations, Colorado oil and gas well operators have submitted their financial assurance plans. On this...
Read More
1.5°C-alignment requires production declines, but most oil & gas companies are planning to expand Oil and gas companies...
Read More
Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy action on climate and the rise in...
Read More
Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a manifestation of non...
Read More
Double or Nothing: How regulators are gambling on the future self-interest...
Oil & Gas Report June 2022The Gulf of Mexico has long been a major oil and gas producing region for the U.S., but field depletion in shallower regions near...
Read More
The risks associated with gas infrastructure investment have never been higher This report continues our series exploring the...
Read More
Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,” which will be a...
Read More
Unabated gas plants’ future role in the power system should be predominantly limited to backup reserve to allow for flexible...
Read More
Compared to other large oil and gas producing states, California and Ohio rank last in forcing the closure of idled, abandoned...
Read More
Committing to net zero is not enough – the emissions reduction pathway is critical Carbon Tracker’s fifth annual...
Read More
A Clean Energy Portfolio (CEP) is already more competitive than new combined-cycle gas plants (CCGTs) in Italy. Foot Off the Gas...
Read More
Nel presente studio analizziamo l’attuabilità finanziaria di nuove centrali a gas in Italia, confrontandone il costo con...
Read More
Betting on new gas today means shouldering consumers with higher prices tomorrow as well as missing the net zero pathway the UK...
Read More
Fossil fuel-reliant countries could see a drop of 51% in government oil and gas revenues in a shift to a low-carbon world over...
Read More
In a series of reports since 2011, Carbon Tracker has shown the financial and stranded asset risks to fossil fuel producers...
Read More
Billion Dollar Orphans: Why millions of oil and gas wells could become...
Oil & Gas Report October 2020There are 2.6 million unplugged onshore wells in the U.S., with another estimated 1.2 million that are undocumented. In It’s...
Read More
Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy transition by...
Read More
Carbon Tracker pioneered work on the oil and gas industry’s “stranded assets”; as investors increasingly ask whether oil...
Read More
South Korea needs to phase-out unabated gas by 2050 in a Paris-aligned scenario or potentially risk $60 billion in stranded...
Read More
To deflate the carbon bubble and protect investors, oil & gas companies must shrink The world’s listed oil and gas majors...
Read More
Carbon Tracker's mission is to align investors strategies to climate change action. We recognise that there is...
Read More
This report provides an update to our 2017 and 2018 "2 Degrees of Separation" reports, along with an updated methodology. The...
Read More
In this study we review the remuneration practice used in the oil and gas industry and look at alignment with either growth or...
Read More
Market counts down to the MSR The EU carbon market has been the hottest commodity market in the world over the last 16...
Read More
This report updates our 2 Degrees of Separation report, published in June 2017 2 Degrees of Separation laid out a framework...
Read More
Closing the Gap to a Paris-compliant EU-ETS Carbon pricing, whether via cap-and-trade schemes or taxes, is not sufficient on...
Read More
This study updates our report 2 Degrees of Separation, and for the first time quantifies risk of overinvestment under a 1.75ᵒC...
Read More
What does a 2°C scenario mean for future refining capacity? In this paper, we look at how a scenario for oil demand that is...
Read More
Explore the report webpage: 2degreeseparation.com This report, produced by Carbon Tracker, Principles for Responsible...
Read More
Carbon Tracker’s work on the energy transition has already demonstrated the value in challenging traditional energy model...
Read More
Why a 2°C business model is less risky than 'business-as-usual' for oil companies. The business model for many companies in the...
Read More
U.S. and European oil and gas companies are under increasing pressure from shareholders to stress test their businesses against a...
Read More
Oil majors could be worth up to $140 billion more by aligning production with climate targets
Read More
The flaws in the business models of some of the largest US shale producers are becoming clear. Growing levels of debt are...
Read More
The data is clear – the energy transition is underway, and the direction of travel is away from fossil fuels. But not everyone...
Read More
Low carbon scenarios do include the potential for gas demand to grow over the next decade. But if we are to stay within a carbon...
Read More
US shale production has prompted increased volatility in the oil markets, as exemplified by the 50% drop in prices during the...
Read More
The 2015 Oil Spending Review is in Full Swing With oil prices collapsing to between $50/$60 a barrel (at the...
Read More
During 2014, following in the footsteps of Shell and ExxonMobil, oil and gas industry association IPIECA published a “fact...
Read More
Shell underestimates risk for up to $77 bln of high cost oil projects The Carbon Tracker Initiative (CTI) and Energy...
Read More
This report is a risk analysis which provides a tool for the majority of investors who cannot simply divest, so they can...
Read More
Exxon: Is business as normal the right strategy? Earlier this month, ExxonMobil published a document entitled, “Energy and...
Read More
Carbon Tracker respond to the US Department of State's Final Supplemental Environmental Impact Statement (FSEIS) with our new...
Read More
This new research from Carbon Tracker and the Association of Chartered Certified Accountants reveals that current financial...
Read More
The fourth in the series of Carbon Tracker's Unburnable Carbon reports, focuses on Brazil - a country with the fascinating...
Read More
This new research from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment at LSE calls...
Read More
Carbon Tracker and Standard & Poors have been working together on the implications of carbon constraints for credit ratings...
Read More
This is the original report which pioneered the concept of the 'Carbon Bubble'. This award-winning analysis by Carbon...
Read More