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
Regulatory & Policy
Blog
06 October 2026
Can a Sweltering Summer Create an Autumn of Opportunity for the Transition?
Recent months have reinforced the case for accelerating action on the energy transition and climate, particularly from a European...
Regulatory & Policy
Report
05 June 2026
Carbon Tracker Response to the EAC Consultation
Key recommendations We advise that HMT should align UK IPO listing rules for fossil fuel companies with the carbon budget. HMT...
Regulatory & Policy
Report
13 May 2026
Ambition Under Pressure: Analytical Leadership vs. Strategic Hesitation
How NBIM is exposing the market-wide under-pricing of climate risk The report, Ambition Under Pressure: Analytical Leadership vs....
Regulatory & Policy
Blog
16 April 2026
Will Santa Marta herald a new multilateralism on fossil fuel phase-out?
These are testing times for climate action – which is why Santa Marta is so important The war in the Gulf has demonstrated once...
Regulatory & Policy
Report
19 February 2026
Regulating Unburnable Carbon
A world first atmospheric and financial stress test for fossil fuel reserves In this paper, Carbon Tracker, in partnership with UCL, set...
CA100+ & Stewardship
Report
04 June 2025
Carbon Tracker Methodologies for Climate Action 100+
These documents set out the frameworks and methodologies for how Carbon Tracker Initiative assesses companies in consideration of climate...Popular Reads
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Topline Messages COP30 could make or break the credibility of UN-backed collective action on climate and nature. The new...
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Challenging the Systemic Under-pricing of Climate Damages Within the...
Regulatory & Policy Journal November 2024A paper by Professor Steve Keen (UCL) with Mark Campanale and Joel Benjamin (Carbon Tracker) and Professor Tim Lenton and Dr...
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Recently, former European Central Bank President Mario Draghi presented his report on the “The future of European...
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Can Europe Overcome its Continental Drift? Tough Challenges Ahead for the...
Regulatory & Policy Blog July 2024Just two months ago, Europe felt like it was at a political crossroads. The European Parliamentary elections - where some...
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After his recent primary wins Donald Trump is assured to be the Republican Party’s nominee for President. Polling shows he...
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Flying Blind: In a Holding Pattern
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Report February 2024
The continued absence of climate and transition risks in financial reporting Climate and energy transition risks, and company...
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How many new emissions did oil and gas exploration add last year? Nobody...
Energy Transition Blog December 2023If you are reading this, you know that at a time when the world is burning, and Net Zero seems like a distant dream, oil and gas...
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Pension funds are risking the retirement savings of millions of people by relying on economic research that ignores critical...
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Carbon Tracker and Planet Tracker’s comments on draft ESRS Delegated...
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Report July 2023
Carbon Tracker and Planet Tracker welcome the opportunity to respond to the European Commission’s (“the Commission”)...
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Standing at the crossroads: Colorado Commissioners facing difficult...
Regulatory & Policy Blog April 2023As the Colorado Oil and Gas Conservation Commission (COGCC) evaluates operator bonding proposals, and goes through hearings on...
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In early 2022, Colorado overhauled its financial assurance rules for oil and gas companies in a rulemaking mandated by SB...
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Colorado Bonding Reviews
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Report March 2023
In response to state regulations, Colorado oil and gas well operators have submitted their financial assurance plans. On this...
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Investors Need to Look Carefully at Stranded Asset Risks
Regulatory & Policy Guest Blog January 2023This article was first published by Brink News, with thanks to Thomas Carver. The shift away from a carbon-based economy risks...
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Put a price on it: The case for more effective carbon pricing in Japan
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Analyst Note October 2022
Amidst an energy crisis and a power supply crunch, the Japanese power sector is today experiencing unprecedented stress owing to...
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On June 30, the U.S. Supreme Court ruled that the EPA does not have authority, under the Clean Air Act, to set up an emissions...
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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...
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Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,” which will be a...
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After months of legislative negotiations, the $1.2 trillion Infrastructure bill made it through Congress and was signed by...
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Race to the Top: Internalising oil and gas retirement costs
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Report October 2021
Compared to other large oil and gas producing states, California and Ohio rank last in forcing the closure of idled, abandoned...
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Flying blind: The glaring absence of climate risks in financial reporting
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Report September 2021
Investors are Flying Blind as over 70% of reviewed companies and 80% of auditors fail to disclose climate-related risks in the...
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In the run up to COP 26 many oil and gas companies have announced ‘net-zero by 2050’ targets. However, very few companies...
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As the Colorado Oil and Gas Conservation Commission (COGCC) weighs competing demands of protecting the state finances and...
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As Colorado considers improvements to its oil and gas regulations, some will undoubtedly point to its idle well program as a...
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This weekend marks the end of the first month of the Biden Presidency. In the weeks since the inauguration we have seen a wave...
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To ensure companies meet their obligations to plug oil and gas wells and reclaim drilling sites, Colorado regulations require oil...
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Amid rising tension the final votes of the 2020 US election were cast last week. By electing Democrats Raphael Warnock and John...
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Carbon Tracker's Christmas Cracker had a makeover in 2020. This infographic originally went out in our December newsletter,...
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For the past two years, the Green New Deal (GND) has driven the conversation about how to address climate change. It has been the...
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Given the 24 hour news cycle around the US Congressional and Presidential Election, it would be easy to focus only on what...
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Proposals to enhance climate-related disclosures by listed issuers and...
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Report October 2020
Carbon Tracker and Assurance Mark were given the opportunity to comment on the FCA’s above-referenced proposals (the...
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During her presidential campaign announcement, Senator Amy Klobuchar declared that on her first day in office she would take the...
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"Nobody move! I have a hostage. If anyone follows us, I'll kill myself and then her." Roy Miller, Knight and Day A classic...
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Passing transformative climate change legislation through the U.S. Congress will be one of the major legislative battles of this...
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"Oil and gas companies are hurtling toward bankruptcy, raising fears that wells will be left leaking planet-warming pollutants,...
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Last Call – States’ final chance to avoid the clean-up tab for big...
Regulatory & Policy Blog July 2020The coronavirus pandemic has caused a sharp decline in oil demand, putting intense pressure on oil companies with large...
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Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy transition by...
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The Earth's temperatures continue to rise causing catastrophic climate change. The risks of climate change are having major...
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Carbon Tracker pioneered work on the oil and gas industry’s “stranded assets”; as investors increasingly ask whether oil...
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Written by: Greg Rogers, Theron Horton, Rob Schuwerk Is the goal to get out all of the oil, or get out of the retirement...
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Carbon Tracker Annual Review 2018-2019
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Report October 2019
Carbon Tracker's mission is to align investors strategies to climate change action. We recognise that there is...
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Submission to Treasury Committee on Green Finance & Decarbonisation...
Regulatory & Policy Blog September 2019Carbon Tracker's Mike Knight submitted evidence to the Treasury Select Committee inquiry into the decarbonisation of the UK...
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14 June | The Vatican Mary Robinson served as president of Ireland from 1990 to 1997, and as UN High Commissioner for Human...
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Vietnam’s low-cost renewables revolution and its implications for coal power investments Key findings: ...
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Reporting for a Secure Climate: A model disclosure for upstream oil and gas
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Report May 2019
There is growing attention on the potential impacts of climate-related risks on the upstream oil and gas sector A 2019 report by...
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ConocoPhillips: Concerned on Capex, Cagey on the Dwindling Carbon Budget
Regulatory & Policy Blog March 2019ConocoPhillips’ February 2019 climate report lays out a thoughtful approach to governing climate risk. It addresses...
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BP and Glencore announce plans to link fossil fuel investments to Paris Agreement goals 2019 is shaping up to be the year in...
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By Anthony Hobley Attending Davos for the World Economic Forum (WEF) Annual Meeting is like being thrown into the centre of...
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Mobilising IOSCO to take action on the TCFD recommendations
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Report August 2018
This report was produced by Client Earth, WWF and Carbon Tracker The International Organization of Securities Commissions...
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In the nexus of climate change and financial markets, disclosure is the flavour of the day. Carbon Tracker recently analysed...
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Dispatch dogfight: will the EU ETS put gas in the money in 2018?
Carbon Markets Analyst Note June 2018Since the start of the year, EU carbon has doubled in value, raising the possibility of coal to gas switching in power...
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Under The Microscope: Are companies’ scenario analyses meeting...
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Report May 2018
This paper provides in-depth analysis of the company disclosure of the largest oil and gas companies: BP, Chevron, Conoco...
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Carbon Clampdown: Closing the Gap to a Paris-compliant EU-ETS
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Report April 2018
Closing the Gap to a Paris-compliant EU-ETS Carbon pricing, whether via cap-and-trade schemes or taxes, is not sufficient on...
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Chevron takes tentative steps on asset-level climate risk
Accounting, Audit, & Disclosure Blog March 2018Chevron’s recent climate change disclosures become the first to reach down to the asset level, but remain light on useful...
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Summary The operating costs of coal units are complex and depend on many variables. Coal units are complex, long-life...
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Our analysts Matt Gray and Laurence Watson respond to PPL's recent Climate Assessment Report. Summary Following a...
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Submission to BEIS on Streamlined Energy and Carbon Reporting proposal
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Report January 2018
Carbon Tracker's submission to the consultation phase of the Department of Business, Energy & Industrial Strategy's...
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Comments on the Environmental Audit Committee’s Green Finance inquiry
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Report December 2017
Carbon Tracker Initiative comments on the Environmental Audit Committee’s Green Finance inquiry We welcome the opportunity...
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If you read just one thing this year…… first, it’s December! What took you so long?......second, make it this. Much...
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A Time Machine for Climate Risk: bringing the future forward with 2˚C...
Regulatory & Policy Blog November 2017See here for a downloadable version of this blog. “Breaking the Tragedy of the Horizon” It has been two years since the...
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Industry opposes enhanced climate risk disclosure, concerned it will move...
Regulatory & Policy Blog May 2017Robert Shuwerk responds to industry opposition to the TCFD recommendations. The Financial Stability Board’s task force on...
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Unexpectedly, the oil and gas love-in that is CERAWeek saw the latest round of climate risk disclosure emerging from the oil...
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Carbon Tracker’s submission to the FSB Task Force on Climate-related...
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Report February 2017
In response to an enquiry from the G20, the Financial Stability Board produced a seminal report investigating the implications of...
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Financial Stability Board talks of climate change in a language investors...
Regulatory & Policy Blog January 2017Carbon Tracker's Rob Schuwerk explains why the FSB's climate risk recommendations are an important step towards helping financial...
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No Rhyme or Reason – Unreasonable projections in a world confronting...
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Report July 2016
In the US, carbon-intensive sectors have made risk factor disclosures related to climate change for years but very little of it...
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Shell climate disclosures: Déjà vu?
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Report May 2016
U.S. and European oil and gas companies are under increasing pressure from shareholders to stress test their businesses against a...
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Carbon Tracker’s submission to the Parliament of Australia’s Senate...
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Report March 2016
In February 2016, we were invited to contribute to the Australian Senate Economics References Committee’s inquiry into carbon...
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Full Disclosure: Why Chevron Needs to Stress-Test the Business at...
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Report March 2016
This paper examines Chevron’s current disclosures in the context of Carbon Tracker’s April 2015 Blueprint, where we...
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Carbon Tracker & Sandbag written evidence on EAC Inquiry on...
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Report February 2016
UK Environmental Audit Committee inquiry: Sustainability and HM Treasury The cross-departmental Environmental Audit Committee...
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Considerations for reporting and disclosure in a carbon-constrained world
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Report January 2016
Hot on the heels of a historic climate deal in Paris the Carbon Tracker Initiative and the Climate Disclosure Standards Board,...
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Fossil Fuel companies failing legal duty to report climate risk
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Report June 2015
Some fossil fuel companies are failing in their legal duty to address climate risk in their reporting, a group of non-profit...
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The Carbon Tracker Initiative’s Submission to the Capital Markets Union...
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Report May 2015
Carbon Tracker recently submitted comments to the European Commission's ongoing capital markets union (CMU)...
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Recognising Risk, Perpetuating Uncertainty. A baseline survey of climate...
Accounting, Audit, & Disclosure Report October 2014In partnership with Ceres, CDP and CDSB, Carbon Tracker has assessed the responses from over 80 fossil fuel companies to a...
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