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
Popular Reports
Flying blind: The glaring absence of climate risks in...
Climate risk disclosure
16 September 2021
The Sky’s the Limit: Solar and wind energy...
Energy transition
23 April 2021
Put Gas on Standby
Gas
19 October 2021
Beyond Petrostates: The burning need to cut oil...
Oil
11 February 2021
Our Latest Research
Blog
16 December 2021
2021 at Carbon Tracker
2021 Wrapped Up Here is an infographic of the key events that took place at Carbon Tracker and in the climate space in 2021. Happy...
Coal
Blog
15 December 2021
South Africa Needs Significantly More Money to Help Phase Out Coal
We welcome the recent announcement that South Africa has struck a deal to access concessional financing of $8.5bn over the next five years...
Blog
08 December 2021
The threat of Nondelegation to US Climate Action
Recently I wrote about how the Biden Administration’s efforts to fight climate change could be sailing into rough waters after passing...
Gas
Blog
01 December 2021
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 rules for Colorado, as...
Gas
Blog
22 November 2021
Mistaking Price Volatility for Market Strength may Store Up Long Term Asset Stranding Risk
Right now, global energy commodity prices remain close to long-term highs despite recent declines. But short-term strength in the value...
Climate risk disclosure
Blog
17 November 2021
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 was signed by President...Popular Reads
Flying blind: The glaring absence of climate risks in financial reporting
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
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The Sky’s the Limit: Solar and wind energy potential is 100 times as much as global energy demand
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
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The Chinese government has been sending mixed messages on its long-term climate ambitions once again On the one hand, an...
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Repsol has seemingly upped its emissions cutting game In early October, responding to shareholder pressure, Repsol announced a...
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There is a paradox at the heart of expertise: those who have accumulated the most authority in an industry are often those least...
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Colorado’s ineffective financial assurance and well plugging rules have allowed the growth of a large portfolio of marginal and...
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The world has changed a lot since Paris; so too should the logic of climate mitigation. Mitigating climate change is no longer...
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On Monday 9th August, the Intergovernmental Panel on Climate Change (IPCC) delivered a climate report warning of ‘code red for...
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In less than 100 days COP26 will start. Many agree that this year’s conference is being held at a critical moment. To...
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The election of President Joe Biden brought a seismic shift in U.S. government policy toward climate change. In addition to...
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Ending the use of coal for power generation in South Korea by 2028 is not only possible but also the most economical option in...
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The IEA’s latest piece on minerals[1] critical to the energy transition gives a rather pessimistic spin to what was some very...
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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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Shell and Eni’s recent strategy updates have highlighted a key emerging point in the debate on oil and gas 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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There’s a quip about lawyers that goes 99% of attorneys give the rest a bad name. The same can be said about oil producers...
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“Having looked to government for bread, on the first scarcity they will turn and bite the hand that fed them.” Edmund...
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2020 was a tough year for big oil. Short-term demand was hammered by the impacts of Covid-19, while the ever-growing...
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When it comes to oilfield plugging obligations, industry voices contend that industry has the problem in hand.[1] And where it...
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Emissions trajectories continue to bend lower Last month, both Shell and Eni revised their scope 3 emissions plans, updating...
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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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Colorado drillers pay pennies on the dollar to plug oil wells
Climate risk disclosure Blog February 2021The Colorado Oil & Gas Compact Commission (COGCC) is considering improvements to its oil and gas bonding regime. These...
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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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Kingsmill Bond on BBC News talking Joe Biden’s Presidency & the...
Energy transition Blog January 2021Carbon Tracker's New Energy Strategist Kingsmill Bond argues the election of Joe Biden on a ticket to restore America's climate...
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2021 is a year of opportunity; one of resetting, reshaping and a chance to remove distortions that hinder an orderly energy...
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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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2020 has, to put it mildly, been full of surprises. Oil and gas companies, long predictable and averse to change, have even...
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The oil and gas industry, like many other commodity industries, has long been characterised by volatility, instability and...
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Guest post by Carbon Tracker advisory board member Nick Robins - reposted with permission from the author If there is one...
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The exit of Trump removes the greatest impediment to the energy transition, and will unleash a great era of creativity and...
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Explorers use maps intensively, but they take the information recorded in the charts they use with a few grains of salt, knowing...
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A key tipping point was reached in 2019. Global demand for fossil fuels peaked and is unlikely ever to recover to its pre-crisis...
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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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The Texas-based company Vistra recently announced that they will close six coal power plants and cut their coal generating...
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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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As part of a UK government-funded project to support the Philippines power sector stakeholders navigate the shifts, risks and...
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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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One of the world’s leading energy forecasters released a report this morning arguing that 2019 was the peak of the fossil fuel...
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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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BP has elaborated on its strategy to deliver net zero – cutting oil and gas production by “at least” 40% by...
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Last 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...
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With 46 GW of renewable energy capacity, Enel is the largest private operator of renewable energy globally. [i] [ii] Enel also...
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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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Key findings: Our research shows that UK Export Finance supports upstream oil projects that seem very likely to become...
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This blog was originally posted here on 26 May 2020. It is reprinted with permission. The world of Environmental, Social and...
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The sudden economic downturn brought on by the Coronavirus threatens to cripple the finances of U.S state governments. The...
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The COVID-19 pandemic shut economies, disrupted established global production chains and pressed an indefinite pause on the...
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At the end of February, Italian oil major Eni announced new carbon emissions reduction plans. While not aiming for net zero...
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In ancient Greek theatre, deus ex machina (“god from the machine”) is when a seemingly intractable plot issue is...
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This blog updates our 2018 note Carbon Budgets Explained. Carbon budgets – the amount of carbon dioxide emissions permitted...
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The Covid-19 crisis is showing up the oil and gas industry’s exposure to the threat of falling demand, a forewarning of what...
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The IEA on Thursday[1] released some eye-watering projections for energy demand declines in 2020 in the light of the Covid19...
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One of last year’s key developments relating to climate change risks was a handful of fossil fuel producers agreeing to show...
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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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The arms race in setting carbon emissions targets is such that Shell, once one of the industry leaders when it announced its...
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At this time of crisis, the immediate issue is to solve the health and economic emergencies, and we salute the heroes of the...
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I 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...
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COVID-19 is crippling economies and creating turmoil in financial markets. This note gives our outlook for coal generation in...
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COVID-19 continues to shake the global economy, and energy markets are no exception. Oil in particular finds itself caught...
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The piece originally was posted to the World Economic Forum website on March 18, 2020. The impact of China's previous...
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The piece originally was posted to LGIM Future World Blog on February 26, 2020. It is reprinted with permission. By Nick...
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Amid ever-increasing concerns over climate risks, BP is the latest European oil and gas company to announce a climate goal with...
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The purpose of this note is to: Address RWE’s response to our recent report Apocoalypse Now, by acknowledging that, per...
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Coal power is losing its economic footing. As detailed in Figure 1, according to Carbon Tracker analysis, which is based on...
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Repsol has just announced a shift in strategic direction – to become a net zero emissions company by 2050. This move extends...
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Economist Ann Pettifor is one of several leading thinkers publishing books on the Green New Deal (GND) this year. However unlike...
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Once upon a time – the 1990s if you are interested -- there was a wondrous oil company called Exxon. It was run by a clever...
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Submission 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...
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The Amazon is burning, Greenland is melting, the US is rolling back environmental protections, and the energy sector consensus is...
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At Carbon Tracker - our research focus is the impact of climate change on financial markets. Our global coal report, Powering...
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Last week Carbon Tracker’s power & utilities team was in Manila to attend the launch of a UK government-funded project to...
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During the inaugural London Climate Action Week - Carbon Tracker co-hosted the Climate Risk and the Capital Domino Effect event...
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Recently Carbon Tracker’s power and utilities team travelled to Vietnam to market our latest analyst note, Here Comes the Sun...
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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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The following piece originally was posted to Oilprice.com on March 3, 2019. It is reprinted with permission. Investors are...
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The UK Climate Change Committee (CCC) has reported on its recommended targets for the UK to reduce its greenhouse gas emissions...
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ConocoPhillips: 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...
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Why shareholders should rethink executive reward For much of the early part of this century, the oil and gas industry was in...
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The 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...
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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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Arriving into Katowice Poland, host city for COP24, you were immediately struck by the obvious conflict at the heart of the UN...
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Myths 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...
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Adding 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...
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This blog originally appeared on the IEEFA website By Tom Sanzillo, Kathy Hipple and Clark Williams-Derry Invest in the...
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By Paul Spedding BP chief executive Bob Dudley is at risk of being branded an altruist if his “Oil and Money” speech to...
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Carbon capture and storage, or CCS, refers to technologies that allow us to capture CO2 at the source of its production and...
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One of the questions we are most frequently asked by investors is – how can we tell if a company is “Paris compliant”? This...
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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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Guest Blog from Greg Rogers, Co-founder, Eratosthenes LLC In a classic scene from the 1976 American comedy, The Gumball Rally,...
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One 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...
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Several financial institutions have recently announced they will stop funding new coal power projects, with HSBC being the...
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Well 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...
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Summary Occidental neglects demand fundamentals in its 2°C analysis and opts for the foregone conclusion of a test against...
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Chevron’s recent climate change disclosures become the first to reach down to the asset level, but remain light on useful...
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ExxonMobil's Energy and Carbon Summary is a step in the right direction, but lacks clarity across a number of...
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A PDF version of this paper is available here. An updated version of this note is available now in Carbon Budgets: Where are...
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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...
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...
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State 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...
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Does the oil major’s 2017 Energy Perspectives mark new thinking for the company? On June 8th, Statoil published the 2017...
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Industry 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...
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Glencore released a report last week ahead of its Annual General Meeting aimed at assessing the long-term implications of climate...
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Cost reductions of India’s solar revolution should serve as a warning to coal investors This week solar PV prices in India...
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Former UN climate change chief Christiana Figueres brings new urgency to the global climate conversation with a campaign to...
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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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Financial 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...
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The 12 Days of Carbon Tracker Well…that was different. 2016 has been quite the year of change. A year of political events that...
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State 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...
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Latest 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...
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Guest post by Kingsmill Bond, new energy analyst at Trusted Sources (research & consultancy) The orthodox view is that...
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Even if oil prices rise in the aftermath of the OPEC agreement on cutting production, the oil industry should be wary of...
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Carbon Tracker’s reports and blogs are available in seven different languages: Arabic...
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A series of recent Forbes articles intend to cast doubt on the relevance of stranded asset risks to investors. Mark Fulton,...
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In 2016, the Kingdom of Saudi Arabia has a major opportunity to develop a new industry, an opportunity that became something of...
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The recent shift in China’s economy has been one of dramatic speed and scale. The first decade of the 2000s saw China’s...
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By Paul Spedding, Former Global Co-Head of Oil And Gas Research at HSBC and Advisor to Carbon Tracker. First appeared on...
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Just because one of Britain's best loved vehicles rolled off the production line for the last time last week doesn't...
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Shelagh Whitley and Mark Fulton President Obama’s rejection of the Keystone XL pipeline last November signalled a landmark...
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Stranded Assets a Response: Myth or Reality? Late last year respected British economist Dieter Helm dismissed the concept of...
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Is Royal Dutch Shell, one of the world’s biggest oil and gas companies, really turning its back on fossil fuels? Not only has...
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“First they ignore you, then they laugh at you, then they fight you, then you win.” Mahatma Gandhi I recently attended a...
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First appeared in BusinessGreen Global coal is on the ropes. Prices of thermal coal have collapsed as demand evaporates;...
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This guest post by Paul Gilding, an independent writer, corporate advisor and advocate for action on climate change and...
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First appeared in BusinessGreen Will the United Nations Climate Change Conference (COP 21) in Paris later this year be a...
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Petrobras’ recent launch of a notional $2.5 billion worth of 100-year bonds has been viewed as evidence that investors,...
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Rising greenhouse gas emissions are often talked about as a one-time, irreversible natural experiment with the climate...
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First appeared in BusinessGreen Through our pioneering “Carbon Bubble” work we used a simple idea and easy numbers to...
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First appeared in BusinessGreen As the world’s top financiers gather in Paris ahead of International Climate Finance Day on...
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First appeared in BusinessGreen Ahead of the Paris climate talks the burning question for policy makers and investors is how...
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The steep fall in the price of oil since the middle of last year has brought volatility back to the market with a vengeance,...
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Over the past 18 months the Carbon Tracker Initiative has written a number of studies on the economics of the controversial...
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Carbon Tracker Initiative's Anthony Hobley argues that far from being a disaster for clean tech, low oil prices could aid...
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Carbon Tracker comment on US-China climate change agreement “For Carbon Tracker, today’s announcement of the “joint...
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Carbon Tracker’s ultimate vision is a climate-secure energy and financial system. This does not mean fossil fuels being...
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