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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
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Foot off the Gas: Why the UK should invest in clean...

Beyond Petrostates: The burning need to cut oil...

It’s Closing Time: The Huge Bill to Abandon...

Billion Dollar Orphans: Why millions of oil and gas...

Treat the cause, not the symptom
As Colorado considers improvements to its oil and gas regulations, some will undoubtedly point to its idle well program as a beacon of...
Biden Hits the Ground Running on Climate Change
This weekend marks the end of the first month of the Biden Presidency. In the weeks since the inauguration we have seen a wave of action...
Colorado drillers pay pennies on the dollar to plug oil wells
The Colorado Oil & Gas Compact Commission (COGCC) is considering improvements to its oil and gas bonding regime. These surety bonds...
The Moral Hazard of Blanket Bonds
To ensure companies meet their obligations to plug oil and gas wells and reclaim drilling sites, Colorado regulations require oil and gas...
Kingsmill Bond on BBC News talking Joe Biden’s Presidency & the implications for climate action
Carbon Tracker's New Energy Strategist Kingsmill Bond argues the election of Joe Biden on a ticket to restore America's climate leadership...
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 orderly energy transition. The...Popular Reads
Foot off the Gas: Why the UK should invest in clean energy
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
Read MoreBeyond Petrostates: The burning need to cut oil dependence in the energy transition
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
Read MoreAmid rising tension the final votes of the 2020 US election were cast last week. By electing Democrats Raphael Warnock and John...
Read MoreCarbon Tracker's Christmas Cracker had a makeover in 2020. This infographic originally went out in our December newsletter,...
Read MoreFor the past two years, the Green New Deal (GND) has driven the conversation about how to address climate change. It has been the...
Read More2020 has, to put it mildly, been full of surprises. Oil and gas companies, long predictable and averse to change, have even...
Read MoreThe oil and gas industry, like many other commodity industries, has long been characterised by volatility, instability and...
Read MoreGuest post by Carbon Tracker advisory board member Nick Robins - reposted with permission from the author If there is one...
Read MoreThe exit of Trump removes the greatest impediment to the energy transition, and will unleash a great era of creativity and...
Read MoreExplorers use maps intensively, but they take the information recorded in the charts they use with a few grains of salt, knowing...
Read MoreA key tipping point was reached in 2019. Global demand for fossil fuels peaked and is unlikely ever to recover to its pre-crisis...
Read MoreGiven the 24 hour news cycle around the US Congressional and Presidential Election, it would be easy to focus only on what...
Read MoreThe Texas-based company Vistra recently announced that they will close six coal power plants and cut their coal generating...
Read MoreDuring her presidential campaign announcement, Senator Amy Klobuchar declared that on her first day in office she would take the...
Read More"Nobody move! I have a hostage. If anyone follows us, I'll kill myself and then her." Roy Miller, Knight and Day A classic...
Read MoreAs part of a UK government-funded project to support the Philippines power sector stakeholders navigate the shifts, risks and...
Read MorePassing transformative climate change legislation through the U.S. Congress will be one of the major legislative battles of this...
Read MoreOne of the world’s leading energy forecasters released a report this morning arguing that 2019 was the peak of the fossil fuel...
Read More"Oil and gas companies are hurtling toward bankruptcy, raising fears that wells will be left leaking planet-warming pollutants,...
Read MoreBP has elaborated on its strategy to deliver net zero – cutting oil and gas production by “at least” 40% by...
Read MoreLast Call – States’ final chance to avoid the clean-up tab for big...
Climate risk disclosure Blog July 2020The coronavirus pandemic has caused a sharp decline in oil demand, putting intense pressure on oil companies with large...
Read MoreWith 46 GW of renewable energy capacity, Enel is the largest private operator of renewable energy globally. [i] [ii] Enel also...
Read MoreThe Earth's temperatures continue to rise causing catastrophic climate change. The risks of climate change are having major...
Read MoreKey findings: Our research shows that UK Export Finance supports upstream oil projects that seem very likely to become...
Read MoreThis blog was originally posted here on 26 May 2020. It is reprinted with permission. The world of Environmental, Social and...
Read MoreThe sudden economic downturn brought on by the Coronavirus threatens to cripple the finances of U.S state governments. The...
Read MoreThe COVID-19 pandemic shut economies, disrupted established global production chains and pressed an indefinite pause on the...
Read MoreAt the end of February, Italian oil major Eni announced new carbon emissions reduction plans. While not aiming for net zero...
Read MoreIn ancient Greek theatre, deus ex machina (“god from the machine”) is when a seemingly intractable plot issue is...
Read MoreThis blog updates our 2018 note Carbon Budgets Explained. Carbon budgets – the amount of carbon dioxide emissions permitted...
Read MoreThe Covid-19 crisis is showing up the oil and gas industry’s exposure to the threat of falling demand, a forewarning of what...
Read MoreThe IEA on Thursday[1] released some eye-watering projections for energy demand declines in 2020 in the light of the Covid19...
Read MoreOne of last year’s key developments relating to climate change risks was a handful of fossil fuel producers agreeing to show...
Read MoreWritten by: Greg Rogers, Theron Horton, Rob Schuwerk Is the goal to get out all of the oil, or get out of the retirement...
Read MoreThe arms race in setting carbon emissions targets is such that Shell, once one of the industry leaders when it announced its...
Read MoreAt this time of crisis, the immediate issue is to solve the health and economic emergencies, and we salute the heroes of the...
Read MoreI was sitting in a hot tub in Leningrad in the summer of 1990 when I realised the Soviet Union would fall. There were five of...
Read MoreCOVID-19 is crippling economies and creating turmoil in financial markets. This note gives our outlook for coal generation in...
Read MoreCOVID-19 continues to shake the global economy, and energy markets are no exception. Oil in particular finds itself caught...
Read MoreThe piece originally was posted to the World Economic Forum website on March 18, 2020. The impact of China's previous...
Read MoreThe piece originally was posted to LGIM Future World Blog on February 26, 2020. It is reprinted with permission. By Nick...
Read MoreAmid ever-increasing concerns over climate risks, BP is the latest European oil and gas company to announce a climate goal with...
Read MoreThe purpose of this note is to: Address RWE’s response to our recent report Apocoalypse Now, by acknowledging that, per...
Read MoreCoal power is losing its economic footing. As detailed in Figure 1, according to Carbon Tracker analysis, which is based on...
Read MoreRepsol has just announced a shift in strategic direction – to become a net zero emissions company by 2050. This move extends...
Read MoreEconomist Ann Pettifor is one of several leading thinkers publishing books on the Green New Deal (GND) this year. However unlike...
Read MoreOnce upon a time – the 1990s if you are interested -- there was a wondrous oil company called Exxon. It was run by a clever...
Read MoreSubmission to Treasury Committee on Green Finance & Decarbonisation...
Climate risk disclosure Blog September 2019Carbon Tracker's Mike Knight submitted evidence to the Treasury Select Committee inquiry into the decarbonisation of the UK...
Read MoreThe Amazon is burning, Greenland is melting, the US is rolling back environmental protections, and the energy sector consensus is...
Read MoreAt Carbon Tracker - our research focus is the impact of climate change on financial markets. Our global coal report, Powering...
Read MoreLast week Carbon Tracker’s power & utilities team was in Manila to attend the launch of a UK government-funded project to...
Read MoreDuring the inaugural London Climate Action Week - Carbon Tracker co-hosted the Climate Risk and the Capital Domino Effect event...
Read MoreRecently Carbon Tracker’s power and utilities team travelled to Vietnam to market our latest analyst note, Here Comes the Sun...
Read More14 June | The Vatican Mary Robinson served as president of Ireland from 1990 to 1997, and as UN High Commissioner for Human...
Read MoreThe following piece originally was posted to Oilprice.com on March 3, 2019. It is reprinted with permission. Investors are...
Read MoreThe UK Climate Change Committee (CCC) has reported on its recommended targets for the UK to reduce its greenhouse gas emissions...
Read MoreConocoPhillips: Concerned on Capex, Cagey on the Dwindling Carbon Budget
Climate risk disclosure Blog March 2019ConocoPhillips’ February 2019 climate report lays out a thoughtful approach to governing climate risk. It addresses...
Read MoreWhy shareholders should rethink executive reward For much of the early part of this century, the oil and gas industry was in...
Read MoreThe missing link – bridging the gap between emission targets and fossil...
Climate risk disclosure Blog February 2019To manage against the goals of the Paris Agreement, oil companies like Chevron must factor scope 3 emissions into their capital...
Read MoreBP and Glencore announce plans to link fossil fuel investments to Paris Agreement goals 2019 is shaping up to be the year in...
Read MoreBy Anthony Hobley Attending Davos for the World Economic Forum (WEF) Annual Meeting is like being thrown into the centre of...
Read MoreArriving into Katowice Poland, host city for COP24, you were immediately struck by the obvious conflict at the heart of the UN...
Read MoreMyths of the Energy Transition – Don’t Let Stranded Economic Thinking...
Energy transition Blog December 2018In the 2014 film Merchants of Doubt a small group of well funded lobbyists cast doubts over the science linking tobacco to lung...
Read MoreAdding a Green Economy to a Brown Economy Does Not Equal Success.
Energy transition Blog November 2018Our Take on OECD Green Finance 2018 Over 2 days in Paris, 13-14 November business leaders, Government policy makers, NGOs and...
Read MoreThis blog originally appeared on the IEEFA website By Tom Sanzillo, Kathy Hipple and Clark Williams-Derry Invest in the...
Read MoreBy Paul Spedding BP chief executive Bob Dudley is at risk of being branded an altruist if his “Oil and Money” speech to...
Read MoreCarbon capture and storage, or CCS, refers to technologies that allow us to capture CO2 at the source of its production and...
Read MoreOne of the questions we are most frequently asked by investors is – how can we tell if a company is “Paris compliant”? This...
Read MoreIn the nexus of climate change and financial markets, disclosure is the flavour of the day. Carbon Tracker recently analysed...
Read MoreGuest Blog from Greg Rogers, Co-founder, Eratosthenes LLC In a classic scene from the 1976 American comedy, The Gumball Rally,...
Read MoreOne year ago we posted here comes the sun – a blog which found the lowest solar bid of 2017 could be less than the cash cost of...
Read MoreSeveral financial institutions have recently announced they will stop funding new coal power projects, with HSBC being the...
Read MoreWell Cooked? EOG Resources drops resolution on GHG emissions
Climate risk disclosure Blog April 2018An SEC decision allowed EOG Resources to exclude a shareholder resolution on GHG emissions A recent SEC decision allowing EOG...
Read MoreSummary Occidental neglects demand fundamentals in its 2°C analysis and opts for the foregone conclusion of a test against...
Read MoreChevron’s recent climate change disclosures become the first to reach down to the asset level, but remain light on useful...
Read MoreExxonMobil's Energy and Carbon Summary is a step in the right direction, but lacks clarity across a number of...
Read MoreA PDF version of this paper is available here. An updated version of this note is available now in Carbon Budgets: Where are...
Read MoreIf you read just one thing this year…… first, it’s December! What took you so long?......second, make it this. Much...
Read MoreA Time Machine for Climate Risk: bringing the future forward with 2˚C...
Climate risk disclosure Blog November 2017See here for a downloadable version of this blog. “Breaking the Tragedy of the Horizon” It has been two years since the...
Read MoreState of the transition: The roulette wheels of Las Vegas land on green
Energy transition Blog September 2017What have Las Vegas casinos got in common with tackling climate change and transitioning to a low carbon economy? More than you...
Read MoreDoes the oil major’s 2017 Energy Perspectives mark new thinking for the company? On June 8th, Statoil published the 2017...
Read MoreIndustry opposes enhanced climate risk disclosure, concerned it will move...
Climate risk disclosure Blog May 2017Robert Shuwerk responds to industry opposition to the TCFD recommendations. The Financial Stability Board’s task force on...
Read MoreGlencore released a report last week ahead of its Annual General Meeting aimed at assessing the long-term implications of climate...
Read MoreCost reductions of India’s solar revolution should serve as a warning to coal investors This week solar PV prices in India...
Read MoreFormer UN climate change chief Christiana Figueres brings new urgency to the global climate conversation with a campaign to...
Read MoreUnexpectedly, the oil and gas love-in that is CERAWeek saw the latest round of climate risk disclosure emerging from the oil...
Read MoreFinancial Stability Board talks of climate change in a language investors...
Climate risk disclosure Blog January 2017Carbon Tracker's Rob Schuwerk explains why the FSB's climate risk recommendations are an important step towards helping financial...
Read MoreThe 12 Days of Carbon Tracker Well…that was different. 2016 has been quite the year of change. A year of political events that...
Read MoreState of The Transition, November 2016: Steps forward continue to...
Energy transition Blog December 2016Guest post by Jeremy Leggett, Non-executive chairman of Carbon Tracker The global energy transition remains in...
Read MoreLatest IEA Outlook outlines an accelerated low-carbon transition
Energy transition Blog November 2016WEO 2016 also warns of disjointed scenario if energy transition is delayed. Scenarios are not forecasts The scenarios produced...
Read MoreGuest post by Kingsmill Bond, new energy analyst at Trusted Sources (research & consultancy) The orthodox view is that...
Read MoreEven if oil prices rise in the aftermath of the OPEC agreement on cutting production, the oil industry should be wary of...
Read MoreCarbon Tracker’s reports and blogs are available in seven different languages: Arabic...
Read MoreA series of recent Forbes articles intend to cast doubt on the relevance of stranded asset risks to investors. Mark Fulton,...
Read MoreIn 2016, the Kingdom of Saudi Arabia has a major opportunity to develop a new industry, an opportunity that became something of...
Read MoreThe recent shift in China’s economy has been one of dramatic speed and scale. The first decade of the 2000s saw China’s...
Read MoreBy Paul Spedding, Former Global Co-Head of Oil And Gas Research at HSBC and Advisor to Carbon Tracker. First appeared on...
Read MoreJust because one of Britain's best loved vehicles rolled off the production line for the last time last week doesn't...
Read MoreShelagh Whitley and Mark Fulton President Obama’s rejection of the Keystone XL pipeline last November signalled a landmark...
Read MoreStranded Assets a Response: Myth or Reality? Late last year respected British economist Dieter Helm dismissed the concept of...
Read MoreIs Royal Dutch Shell, one of the world’s biggest oil and gas companies, really turning its back on fossil fuels? Not only has...
Read More“First they ignore you, then they laugh at you, then they fight you, then you win.” Mahatma Gandhi I recently attended a...
Read MoreFirst appeared in BusinessGreen Global coal is on the ropes. Prices of thermal coal have collapsed as demand evaporates;...
Read MoreThis guest post by Paul Gilding, an independent writer, corporate advisor and advocate for action on climate change and...
Read MoreFirst appeared in BusinessGreen Will the United Nations Climate Change Conference (COP 21) in Paris later this year be a...
Read MorePetrobras’ recent launch of a notional $2.5 billion worth of 100-year bonds has been viewed as evidence that investors,...
Read MoreRising greenhouse gas emissions are often talked about as a one-time, irreversible natural experiment with the climate...
Read MoreFirst appeared in BusinessGreen Through our pioneering “Carbon Bubble” work we used a simple idea and easy numbers to...
Read MoreFirst appeared in BusinessGreen As the world’s top financiers gather in Paris ahead of International Climate Finance Day on...
Read MoreFirst appeared in BusinessGreen Ahead of the Paris climate talks the burning question for policy makers and investors is how...
Read MoreThe steep fall in the price of oil since the middle of last year has brought volatility back to the market with a vengeance,...
Read MoreOver the past 18 months the Carbon Tracker Initiative has written a number of studies on the economics of the controversial...
Read MoreCarbon Tracker Initiative's Anthony Hobley argues that far from being a disaster for clean tech, low oil prices could aid...
Read MoreCarbon Tracker comment on US-China climate change agreement “For Carbon Tracker, today’s announcement of the “joint...
Read MoreCarbon Tracker’s ultimate vision is a climate-secure energy and financial system. This does not mean fossil fuels being...
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