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
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
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We carry out scenario analysis and research to examine and understand how potential changes to supply and...
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When asked to sum up 2023, the word that seems to have resonated most with us, our peers and our audiences was ‘chaos’. The...
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Asset disposals are commonplace in the oil and gas industry, and M&A has long been a feature of the industry. Yet, as the...
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Carbon Tracker Methodology In a series of reports since 2011, Carbon Tracker has explored the financial implications of the...
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Carbon Tracker has been following the development of the Energy and Carbon Management Commission’s (ECMC) financial assurance...
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The FCA have just announced a Prospectus Review. Specifically, we draw your attention to a key section in the FCA’s...
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Carbon Tracker believes that we need a financial regulatory regime fit for purpose to address the climate crisis. This is why...
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Carbon Tracker has produced two separate related reports on RWE and Uniper, the German publicly traded coal utilities, to assess...
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Carbon Tracker has produced two separate related reports on RWE and Uniper, the German publicly traded coal utilities, to assess...
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Decommissioning Colorado’s Two Oil Industries In 2018, Colorado became one of the first US states to recognize the...
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The real climate impact of Blue Hydrogen and Gas-CCS Our report reveals that CO2 emissions from Blue Hydrogen and Gas-CCS...
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Assessing Truckmakers’ commitment and effective transition to electric vehicles Recently ratified Heavy Duty Vehicles (HDV)...
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CO2 matters: on emissions reporting, ESG ratings and stock market prices in the car sector Following on from the analysis...
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India may not be Paris aligned but that does not mean that key Indian corporates can ignore the technological revolution the...
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Paris Maligned II: Climate alignment assessments reveal oil and gas company transition risk exposure The window of time to...
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The UK Government’s CCUS strategy risks locking consumers into a high-cost, fossil-based future, despite cleaner and cheaper...
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As the energy transition continues to accelerate, demand for each of the fossil fuels is likely to peak before 2030. Oil and gas...
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The continued absence of climate and transition risks in financial reporting Climate and energy transition risks, and company...
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In March of 2022, the ECMC announced Colorado’s new financial assurance rules with much fanfare, referring to the Rules as the...
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Snam Carbon Tracker has produced a set of three separate related reports on Snam, Italgas and Enagas, the European gas network...
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Italgas Carbon Tracker has produced a set of three separate related reports on Snam, Italgas and Enagas, the European gas...
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Enagas Carbon Tracker has produced a set of three separate related reports on Snam, Italgas and Enagas, the European gas network...
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Carbon Tracker Initiative is one of four data providers to the Climate Action 100+ Net Zero Company Benchmark. The Benchmark...
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Climate Accounting and Auditing assesses the financial statements and related audit reports of all 170 focus companies across...
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As a research provider, we conduct financial analysis and have developed a set of alignment assessments to help investors...
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For utilities, we must look both forward and backward. Firms must avoid building new coal and gas generation assets and...
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It is increasingly clear that the energy transition is well underway, with renewables substituting for oil and...
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The key message of this paper is that oil and gas decommissioning obligations amplify the potential harm from—and could be the...
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Tohoku Electric Power is one of the largest power generation and transmission companies in Japan. It has 17 GW of own generation...
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Oil and gas reserve classification systems today are focused on the value oil and gas has when burnt. Devised in the first part...
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Unlocking the economic potential from vehicle electrification The global deployment of Battery Electric Vehicles (BEVs) is...
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Strategies for oil and gas companies to respond to the substitution challenge of the energy transition There can be no...
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Iberdrola is Europe’s largest and the world’s second largest utility by market cap. It has more than 50GW of generation...
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Climate Action 100+ Net Zero Company Benchmark: Climate Accounting and Audit Assessment This document sets out the framework and...
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Степенным шагом к углеродной нейтральности В этом докладе основное...
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Steppes to Net Zero This report focuses on Kazakhstan’s energy transition pathway and provides a perspective that strikes a...
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Find a round up of Carbon Tracker's research and outreach activity in 2022. In 2022 we saw global shocks catalysed by Russia’s...
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The GB power system is increasingly at risk of becoming stuck in transition on its necessary path to carbon neutrality. Over...
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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 welcome the opportunity to respond to the European Commission’s (“the Commission”)...
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Transition Plan Analysis Enel is the largest global renewable private player, biggest grid operator by end users and retail...
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California’s oil and gas producing resources have been in overall decline for nearly four decades, but the industry turned a...
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Given the very large size of Shell’s hydrocarbon assets on the balance sheet, to convert Shell into a business able to cope...
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Transition Plan Analysis Despite nationalisation, EDF remains a major issuer in the fixed income space as well as a competitive...
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Key Findings: Shell has made a significant effort to improve the amount, depth and frequency of information in its approach...
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In response to state regulations, Colorado oil and gas well operators have submitted their financial assurance plans. On this...
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Transition Plan Analysis (TPA) Level 1 Despite differing views on climate change, it cannot escape anyone’s attention that...
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Response to the Financial Conduct Authority’s Consultation Paper “Sustainability Disclosure Requirements (SDR) and investment...
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Decarbonising CCGT, grids & Scope 3 Emissions Engie needs to consider retiring merchant CCGT capacity. Its plans to...
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Transition Plan Analysis: For Naturgy to be fully aligned with the goals of the Paris Agreement, five things need to...
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Transition Plan Analysis: Engie’s plans to reduce carbon intensity for scope 1 and 3 emissions from generation are not...
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For Centrica to be aligned with the goals of the Paris Agreement, four things need to happen: The company needs to...
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1.5°C-alignment requires production declines, but most oil & gas companies are planning to expand Oil and gas companies...
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J-Power has a commitment to achieve net zero emissions by 2050 but we do not think the plan is currently Paris-aligned We...
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The war in Ukraine is a further example of the inherent fragility of the world fossil fuel system. It is accelerating the energy...
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For many decades fossil hydrogen has been an integral part of our energy society. From being an essential component for powering...
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RWE is bringing forward the closure of 3.1GW of lignite capacity at Niederaussem K, Neurath F & G from end 2038 to December...
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In 2021, Carbon Tracker published its first report about the degree to which companies had disclosed taking climate risks into...
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Introducing a global registry of fossil fuels to drive corporate and government accountability. The Global Registry of Fossil...
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PGE PGE’s planned transition to net zero is not aligned with the goals of the Paris Agreement. PGE could retire 5.7GW...
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Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy action on climate and the rise in...
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Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a manifestation of non...
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The 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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The risks associated with gas infrastructure investment have never been higher This report continues our series exploring the...
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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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Unabated gas plants’ future role in the power system should be predominantly limited to backup reserve to allow for flexible...
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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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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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Committing to net zero is not enough – the emissions reduction pathway is critical Carbon Tracker’s fifth annual...
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Fossil fuel electricity generation has peaked worldwide as emerging market countries seize the opportunities of low-cost...
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Renewables continue to increase their cost competitiveness versus coal, with 27% of the global coal fleet unprofitable today. Do...
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Solar and wind potential is far higher than that of fossil fuels and can meet global energy demand many times over, unlocking...
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A Clean Energy Portfolio (CEP) is already more competitive than new combined-cycle gas plants (CCGTs) in Italy. Foot Off the Gas...
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Nel presente studio analizziamo l’attuabilità finanziaria di nuove centrali a gas in Italia, confrontandone il costo con...
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Betting on new gas today means shouldering consumers with higher prices tomorrow as well as missing the net zero pathway the UK...
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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...
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In a series of reports since 2011, Carbon Tracker has shown the financial and stranded asset risks to fossil fuel producers...
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Carbon Tracker and Assurance Mark were given the opportunity to comment on the FCA’s above-referenced proposals (the...
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There are 2.6 million unplugged onshore wells in the U.S., with another estimated 1.2 million that are undocumented. In It’s...
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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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Although coal has long been viewed as the cheapest way to power the global economy, this is no longer the case. New renewable...
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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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The energy transition is disrupting the entire fossil fuel system, with profound consequences for financial markets and...
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The 2019 report on the Speed of the Energy Transition by the World Economic Forum Global Future Council on Energy described two...
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South Korea needs to phase-out unabated gas by 2050 in a Paris-aligned scenario or potentially risk $60 billion in stranded...
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Building and operating coal power is becoming a political decision that increasingly conflicts with underlying economic...
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Coal developers risk wasting more than $600 billion because it is already cheaper to generate electricity from new renewables...
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To deflate the carbon bubble and protect investors, oil & gas companies must shrink The world’s listed oil and gas majors...
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Carbon Tracker's mission is to align investors strategies to climate change action. We recognise that there is...
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The economic viability of new and existing coal in Japan could be severely undermined by cheap renewables and, without policy...
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This report provides an update to our 2017 and 2018 "2 Degrees of Separation" reports, along with an updated methodology. The...
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Gradual or Rapid Energy Transition: What path are we on? The energy industry is complex, and understanding the major trends...
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Vietnam’s low-cost renewables revolution and its implications for coal power investments Key findings: ...
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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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In this study we review the remuneration practice used in the oil and gas industry and look at alignment with either growth or...
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Our New Energy Strategist co-authored this report for the International Renewable Energy Agency (IRENA) Fundamental changes...
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This interactive portal and accompanying report track the economic and financial risks of coal power at the asset-level...
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Examining the stranded asset risk of coal plants in Indonesia, Vietnam and The Philippines These three country briefings...
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In this report, we present the results from a revolutionary method pioneered by Carbon Tracker to use satellite imagery to...
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The peak in fossil fuel demand will have a dramatic impact on financial markets in the 2020s. The global energy system is...
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The asset economics and financial implications of Energa’s and Enea’s proposed new Ostrołęka coal power plant C In this...
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This report was produced by Client Earth, WWF and Carbon Tracker The International Organization of Securities Commissions...
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Market counts down to the MSR The EU carbon market has been the hottest commodity market in the world over the last 16...
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This report updates our 2 Degrees of Separation report, published in June 2017 2 Degrees of Separation laid out a framework...
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Vers un SEQE-UE conforme à l'accord de Paris Notre modélisation de cette compression de l'offre suggère que le prix de l'EUA...
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This paper provides in-depth analysis of the company disclosure of the largest oil and gas companies: BP, Chevron, Conoco...
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Die Lücke zu einem Paris-konformen EU-EHS schließen Die Schaffung dieser Angebotsknappheit könnte die Preise auf 15 €/t bis...
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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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This is the first in a series of reports on company scenario analyses, focusing on ExxonMobil This paper seeks to assist...
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This study updates our report 2 Degrees of Separation, and for the first time quantifies risk of overinvestment under a 1.75ᵒC...
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Zwei-Grad-Ziel und Strategieanalyse für europäische Kohlekraft-Investoren In diesem Bericht beschäftigen wir uns mit einem...
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Carbon Tracker's submission to the consultation phase of the Department of Business, Energy & Industrial Strategy's...
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Carbon Tracker Initiative comments on the Environmental Audit Committee’s Green Finance inquiry We welcome the opportunity...
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Carbon Tracker's comments on the Sustainability Accounting Standards Board proposed changes to provisional standards. We...
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In this report, we look at how a scenario for the EU28 that is compliant with limiting the rise in global warming to below 2°C...
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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...
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Coal’s market share in the US power mix is being diminished at an unprecedented rate due to fierce competition from cheap gas...
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China is currently building more coal plants than it needs and in doing so is misallocating capital at an unprecedented rate. As...
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Explore the report webpage: 2degreeseparation.com This report, produced by Carbon Tracker, Principles for Responsible...
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In response to an enquiry from the G20, the Financial Stability Board produced a seminal report investigating the implications of...
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This report was produced in partnership between Carbon Tracker and the Grantham Institute at Imperial College London. The...
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Alpha Natural Resources, Peabody Energy Corp., and Arch Coal, Inc.—three of the four largest U.S. coal companies by annual...
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China is currently building more coal plants than it needs and in doing so is misallocating capital at an unprecedented...
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Unabhängige Stresstests belegen: Große Erdölkonzerne könnten durch Übernahme des 2°C-Pfades Wertsteigerungen...
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独立压力测试表明，石油巨头若采取 2˚C 路径，其资产价值将显著提高 伦敦/纽约，2016 年 5...
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Les actifs en amont des sept plus grandes compagnies pétrolières et gazières privées et cotées pourraient valoir ensemble...
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Carbon Tracker’s work on the energy transition has already demonstrated the value in challenging traditional energy model...
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In response to the US Securities and Exchange Commission (SEC) Release No. 33-10098, "Modernization of Property Disclosures for...
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In response to the SEC's Concept Release on Business and Financial Disclosure, Carbon Tracker submitted comments, identifying...
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Why a 2°C business model is less risky than 'business-as-usual' for oil companies. The business model for many companies in the...
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In January 2016 the US Secretary of the Interior announced a moratorium on new coal leasing on public lands pending completion of...
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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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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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In April 2016, the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures published a report on Phase...
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Oil majors could be worth up to $140 billion more by aligning production with climate targets
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In 2013, the European Commission adopted proposals for a Directive amending the Accounting Directive in relation to the reporting...
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The flaws in the business models of some of the largest US shale producers are becoming clear. Growing levels of debt are...
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In February 2016, we were invited to contribute to the Australian Senate Economics References Committee’s inquiry into carbon...
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This paper examines Chevron’s current disclosures in the context of Carbon Tracker’s April 2015 Blueprint, where we...
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UK Environmental Audit Committee inquiry: Sustainability and HM Treasury The cross-departmental Environmental Audit Committee...
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A análise feita pelo Carbon Tracker indica que entre 60% e 80% das reservas de carvão, óleo e gás do mundo não poderão ser...
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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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In 2011, Carbon Tracker asked whether the world’s capital markets were carrying a “carbon bubble”. Further analysis...
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Fossile Energieunternehmen riskieren, 2 Billionen Dollar mit unwirtschaftlichen Projekten zu...
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Zone de danger des 2 mille milliards de dollars d’actifs dévalorisés Les compagnies de combustibles fossiles...
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The data is clear – the energy transition is underway, and the direction of travel is away from fossil fuels. But not everyone...
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In late 2015, the U.K.’s economic and finance ministry sought public responses to a consultation concentrated on simplifying...
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يشير الإنفاق السنوي الذي تبلغ قيمه 674 مليار دولار أمريكي على أصول...
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283 مليار دولار من الغاز الطبيعي المسال "غير مجد اقتصاديا" لغاية 2025
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هناك حاجة لقيام المستثمرين بتحدي ما يصل إلى 1.1 تريليون دولار أمريكي من...
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يويورك، 22 سبتمبر 2014: يحدد بحث جديد اصدرته مبادرة Carbon Tracker اليوم مخاطر...
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O estudo revela que, apesar de as reservas de combustíveis fósseis já excederem em muito o orçamento de carbono destinado a...
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O estudo global sobre gás identifica 283 mil milhões de dólares em possíveis projetos de gás natural liquefeito (GNL) até...
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A análise de risco assinala que muitos projetos petrolíferos com custos mais altos encontram-se num ponto demasiado alto na...
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Uma nova investigação publicada hoje pela Carbon Tracker Initiative (CTI) descortina grandes riscos financeiros para os...
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El gasto anual de 674 000 millones de dólares en activos de combustibles fósiles «inquemables» señala la incapacidad de...
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Nuestro nuevo estudio global sobre el gas identifica proyectos de gas natural licuado (GNL) hasta el año 2025 por valor de...
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Los inversores deben cuestionar la inversión petrolera de 1,1 billones de dólares para el próximo decenio La curva de...
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Curvas de costes del suministro de carbono La investigación de CTI tiene por objeto suscitar un nuevo debate sobre el futuro...
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This report is designed to challenge the conventional thinking and linear models which dominate the current scenarios for energy...
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This paper, first presented at the 1st Global Stranded Assets Conference, hosted by the Smith School in Oxford September 2015,...
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Der Trend weg von der Kraftwerkskohle – Teure neue Minen sind für Investoren unrentabel Eine neue Studie der Carbon Tracker...
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283 Mrd. $ Flüssigerdgas 'unwirtschaftlich‘ bis 2025
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Investoren müssen Ölinvestitionen in Höhe von 1,1 Billionen $ für das nächste Jahrzehnt hinterfragen
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Investitionen von 674 Mrd. $ in 'unantastbare‘ fossile Brennstoffvorräte zeugen von Blindheit gegenüber enormen Finanzrisiken
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La quantité de combustibles fossiles cotés sur les marchés de capitaux mondiaux est supérieure à celle pouvant être...
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Quel est le risque financier des dépenses d’investissement consacrées au pétrole?
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L’année 2015 n’a fait que confirmer l’éloignement des combustibles fossiles. Quel est le risque financier des dépenses...
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Courbes d’offre du carbone Les études de CTI ont pour objectif d’encourager une nouvelle réflexion sur l’avenir de...
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There has been much discussion of fossil fuel subsidies as both an inefficient use of public tax dollars and a barrier to the...
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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...
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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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In this report we analyse the EU’s largest 5 power generators: Électricité de France (EDF), GDF Suez, Enel, E.ON and RWE, who...
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Carbon Tracker recently submitted comments to the European Commission's ongoing capital markets union (CMU)...
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US shale production has prompted increased volatility in the oil markets, as exemplified by the 50% drop in prices during the...
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Carbon Tracker is developing a transition road map for the fossil fuel industry. This will outline the steps we believe that the...
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The market for thermal coal is in structural decline in the United States. Squeezed out by an abundance of cheap shale gas and...
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The 2015 Oil Spending Review is in Full Swing With oil prices collapsing to between $50/$60 a barrel (at the...
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In a letter to the U.S. Securities and Exchange Commission as part of its ongoing review of disclosure, the Carbon Tracker...
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During 2014, following in the footsteps of Shell and ExxonMobil, oil and gas industry association IPIECA published a “fact...
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This Carbon Tracker report shows how rural communities in Africa and India suffering most from a lack of modern energy can...
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In partnership with Ceres, CDP and CDSB, Carbon Tracker has assessed the responses from over 80 fossil fuel companies to a...
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Our research on coal consists of a package of detailed analyses of coal supply, demand and financial trends. The accompanying...
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Shell underestimates risk for up to $77 bln of high cost oil projects The Carbon Tracker Initiative (CTI) and Energy...
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This latest piece of research from Standard & Poors’ coal analysts in collaboration with CTI explores for the first time...
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Since the turn of the century, China has almost single-handedly been driving global thermal coal consumption growth. Changes in...
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This report is a risk analysis which provides a tool for the majority of investors who cannot simply divest, so they can...
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Exxon: Is business as normal the right strategy? Earlier this month, ExxonMobil published a document entitled, “Energy and...
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Carbon Tracker respond to the US Department of State's Final Supplemental Environmental Impact Statement (FSEIS) with our new...
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Carbon content is a key financial element of fossil fuel reserves. In December 2013, Carbon Tracker submitted a letter to the...
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Following on from Carbon Tracker’s Unburnable Carbon 2013 global analysis, we release this report in collaboration with The...
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This new research from Carbon Tracker and the Association of Chartered Certified Accountants reveals that current financial...
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The fourth in the series of Carbon Tracker's Unburnable Carbon reports, focuses on Brazil - a country with the fascinating...
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This new research from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment at LSE calls...
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Carbon Tracker and Standard & Poors have been working together on the implications of carbon constraints for credit ratings...
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This new analysis from the Carbon Tracker Initiative finds that the current coal reserves earmarked for the South African market,...
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This is the original report which pioneered the concept of the 'Carbon Bubble'. This award-winning analysis by Carbon...
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