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
Still Flying Blind: The Absence of Climate Risk in...
Climate risk disclosure
06 October 2022
African Sun: Why Solar Not Gas Offers Continent the...
Energy transition
14 November 2022
The Future’s Not in Plastics: Why plastics demand...
Energy transition
04 September 2020
Crude Intentions: How oil and gas executives are still...
Oil
04 November 2022
Corporate Research
Report
30 November 2022
Corporate Profile – J Power
J-Power has a commitment to achieve net zero emissions by 2050 but we do not think the plan is currently Paris-aligned We focus our...
Energy transition
Report
14 November 2022
African Sun: Why Solar Not Gas Offers Continent the Best Economic Opportunity in the Transition
The war in Ukraine is a further example of the inherent fragility of the world fossil fuel system. It is accelerating the energy...
Energy transition
Report
20 October 2022
Clean Hydrogen’s Place in the Energy Transition
For many decades fossil hydrogen has been an integral part of our energy society. From being an essential component for powering the first...
Climate risk disclosure
Report
06 October 2022
Still Flying Blind: The Absence of Climate Risk in Financial Reporting
In 2021, Carbon Tracker published its first report about the degree to which companies had disclosed taking climate risks into account...
Report
19 September 2022
Tracking Emissions to Source
Introducing a global registry of fossil fuels to drive corporate and government accountability. The Global Registry of Fossil Fuels...
Corporate Research
Report
17 September 2022
Corporate Research: PGE – Urgency needed, especially for renewables
PGE PGE’s planned transition to net zero is not aligned with the goals of the Paris Agreement. PGE could retire 5.7GW of older...Popular Reads
Still Flying Blind: The Absence of Climate Risk in Financial Reporting
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
Read More
African Sun: Why Solar Not Gas Offers Continent the Best Economic Opportunity in the Transition
We carry out scenario analysis and research to examine and understand how potential changes to supply and...
Read More
Over $1 trillion of oil & gas assets risk becoming stranded as a result of policy action on climate and the rise in...
Read More
Fossil fuel commodity prices are likely to remain volatile with the prospect for further embargos. This is a manifestation of non...
Read More
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...
Read More
The risks associated with gas infrastructure investment have never been higher This report continues our series exploring the...
Read More
Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,” which will be a...
Read More
Unabated gas plants’ future role in the power system should be predominantly limited to backup reserve to allow for flexible...
Read More
Race to the Top: Internalising oil and gas retirement costs
Climate risk disclosure Report October 2021Compared to other large oil and gas producing states, California and Ohio rank last in forcing the closure of idled, abandoned...
Read More
Flying blind: The glaring absence of climate risks in financial reporting
Climate risk disclosure Report September 2021Investors are Flying Blind as over 70% of reviewed companies and 80% of auditors fail to disclose climate-related risks in the...
Read More
Committing to net zero is not enough – the emissions reduction pathway is critical Carbon Tracker’s fifth annual...
Read More
Fossil fuel electricity generation has peaked worldwide as emerging market countries seize the opportunities of low-cost...
Read More
Renewables continue to increase their cost competitiveness versus coal, with 27% of the global coal fleet unprofitable today. Do...
Read More
The Sky’s the Limit: Solar and wind energy potential is 100 times as...
Energy transition Report April 2021Solar and wind potential is far higher than that of fossil fuels and can meet global energy demand many times over, unlocking...
Read More
A Clean Energy Portfolio (CEP) is already more competitive than new combined-cycle gas plants (CCGTs) in Italy. Foot Off the Gas...
Read More
Nel presente studio analizziamo l’attuabilità finanziaria di nuove centrali a gas in Italia, confrontandone il costo con...
Read More
Betting on new gas today means shouldering consumers with higher prices tomorrow as well as missing the net zero pathway the UK...
Read More
Beyond Petrostates: The burning need to cut oil dependence in the energy...
Oil Report February 2021Fossil fuel-reliant countries could see a drop of 51% in government oil and gas revenues in a shift to a low-carbon world over...
Read More
Fault Lines: How diverging oil and gas company strategies link to stranded...
Oil Report October 2020In a series of reports since 2011, Carbon Tracker has shown the financial and stranded asset risks to fossil fuel producers...
Read More
Proposals to enhance climate-related disclosures by listed issuers and...
Climate risk disclosure Report October 2020Carbon Tracker and Assurance Mark were given the opportunity to comment on the FCA’s above-referenced proposals (the...
Read More
There are 2.6 million unplugged onshore wells in the U.S., with another estimated 1.2 million that are undocumented. In It’s...
Read More
Click here to view Carbon Tracker's Annual Review 2019 In 2019 our objective was to accelerate the energy transition by...
Read More
Although coal has long been viewed as the cheapest way to power the global economy, this is no longer the case. New renewable...
Read More
Carbon Tracker pioneered work on the oil and gas industry’s “stranded assets”; as investors increasingly ask whether oil...
Read More
Decline and Fall: The Size & Vulnerability of the Fossil Fuel System
Energy transition Report June 2020The energy transition is disrupting the entire fossil fuel system, with profound consequences for financial markets and...
Read More
The 2019 report on the Speed of the Energy Transition by the World Economic Forum Global Future Council on Energy described two...
Read More
South Korea needs to phase-out unabated gas by 2050 in a Paris-aligned scenario or potentially risk $60 billion in stranded...
Read More
Building and operating coal power is becoming a political decision that increasingly conflicts with underlying economic...
Read More
Coal developers risk wasting more than $600 billion because it is already cheaper to generate electricity from new renewables...
Read More
To deflate the carbon bubble and protect investors, oil & gas companies must shrink The world’s listed oil and gas majors...
Read More
Carbon Tracker's mission is to align investors strategies to climate change action. We recognise that there is...
Read More
The economic viability of new and existing coal in Japan could be severely undermined by cheap renewables and, without policy...
Read More
This report provides an update to our 2017 and 2018 "2 Degrees of Separation" reports, along with an updated methodology. The...
Read More
Gradual or Rapid Energy Transition: What path are we on? The energy industry is complex, and understanding the major trends...
Read More
Vietnam’s low-cost renewables revolution and its implications for coal power investments Key findings: ...
Read More
Reporting for a Secure Climate: A model disclosure for upstream oil and gas
Climate risk disclosure Report May 2019There is growing attention on the potential impacts of climate-related risks on the upstream oil and gas sector A 2019 report by...
Read More
In this study we review the remuneration practice used in the oil and gas industry and look at alignment with either growth or...
Read More
Our New Energy Strategist co-authored this report for the International Renewable Energy Agency (IRENA) Fundamental changes...
Read More
This interactive portal and accompanying report track the economic and financial risks of coal power at the asset-level...
Read More
Economic and financial risks of coal power in Indonesia, Vietnam and the...
Coal Report October 2018Examining the stranded asset risk of coal plants in Indonesia, Vietnam and The Philippines These three country briefings...
Read More
Nowhere to hide: Using satellite imagery to estimate the utilisation of...
Power Report October 2018In this report, we present the results from a revolutionary method pioneered by Carbon Tracker to use satellite imagery to...
Read More
The peak in fossil fuel demand will have a dramatic impact on financial markets in the 2020s. The global energy system is...
Read More
The asset economics and financial implications of Energa’s and Enea’s proposed new Ostrołęka coal power plant C In this...
Read More
Mobilising IOSCO to take action on the TCFD recommendations
Climate risk disclosure Report August 2018This report was produced by Client Earth, WWF and Carbon Tracker The International Organization of Securities Commissions...
Read More
Market counts down to the MSR The EU carbon market has been the hottest commodity market in the world over the last 16...
Read More
This report updates our 2 Degrees of Separation report, published in June 2017 2 Degrees of Separation laid out a framework...
Read More
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...
Read More
Under The Microscope: Are companies’ scenario analyses meeting...
Climate risk disclosure Report May 2018This paper provides in-depth analysis of the company disclosure of the largest oil and gas companies: BP, Chevron, Conoco...
Read More
Die Lücke zu einem Paris-konformen EU-EHS schließen Die Schaffung dieser Angebotsknappheit könnte die Preise auf 15 €/t bis...
Read More
Closing the Gap to a Paris-compliant EU-ETS Carbon pricing, whether via cap-and-trade schemes or taxes, is not sufficient on...
Read More
Falling Short – An assessment of ExxonMobil’s disclosure of...
Climate risk disclosure Report March 2018This is the first in a series of reports on company scenario analyses, focusing on ExxonMobil This paper seeks to assist...
Read More
This study updates our report 2 Degrees of Separation, and for the first time quantifies risk of overinvestment under a 1.75ᵒC...
Read More
Zwei-Grad-Ziel und Strategieanalyse für europäische Kohlekraft-Investoren In diesem Bericht beschäftigen wir uns mit einem...
Read More
Submission to BEIS on Streamlined Energy and Carbon Reporting proposal
Climate risk disclosure Report January 2018Carbon Tracker's submission to the consultation phase of the Department of Business, Energy & Industrial Strategy's...
Read More
Comments on the Environmental Audit Committee’s Green Finance inquiry
Climate risk disclosure Report December 2017Carbon Tracker Initiative comments on the Environmental Audit Committee’s Green Finance inquiry We welcome the opportunity...
Read More
Comments on SASB’s Proposed Changes to Provisional Standards
Climate risk disclosure Report December 2017Carbon Tracker's comments on the Sustainability Accounting Standards Board proposed changes to provisional standards. We...
Read More
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...
Read More
What does a 2°C scenario mean for future refining capacity? In this paper, we look at how a scenario for oil demand that is...
Read More
Coal’s market share in the US power mix is being diminished at an unprecedented rate due to fierce competition from cheap gas...
Read More
China is currently building more coal plants than it needs and in doing so is misallocating capital at an unprecedented rate. As...
Read More
Explore the report webpage: 2degreeseparation.com This report, produced by Carbon Tracker, Principles for Responsible...
Read More
Carbon Tracker’s submission to the FSB Task Force on Climate-related...
Climate risk disclosure Report February 2017In response to an enquiry from the G20, the Financial Stability Board produced a seminal report investigating the implications of...
Read More
Expect the Unexpected: The Disruptive Power of Low-carbon Technology
Energy transition Report February 2017This report was produced in partnership between Carbon Tracker and the Grantham Institute at Imperial College London. The...
Read More
Alpha Natural Resources, Peabody Energy Corp., and Arch Coal, Inc.—three of the four largest U.S. coal companies by annual...
Read More
China is currently building more coal plants than it needs and in doing so is misallocating capital at an unprecedented...
Read More
Unabhängige Stresstests belegen: Große Erdölkonzerne könnten durch Übernahme des 2°C-Pfades Wertsteigerungen...
Read More
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...
Read More
Les actifs en amont des sept plus grandes compagnies pétrolières et gazières privées et cotées pourraient valoir ensemble...
Read More
Carbon Tracker’s work on the energy transition has already demonstrated the value in challenging traditional energy model...
Read More
Submission to SEC on Property Disclosures for Mining Registrants
Climate risk disclosure Report September 2016In response to the US Securities and Exchange Commission (SEC) Release No. 33-10098, "Modernization of Property Disclosures for...
Read More
Carbon Tracker’s submission to the US Securities and Exchange...
Climate risk disclosure Report July 2016In response to the SEC's Concept Release on Business and Financial Disclosure, Carbon Tracker submitted comments, identifying...
Read More
Why a 2°C business model is less risky than 'business-as-usual' for oil companies. The business model for many companies in the...
Read More
In January 2016 the US Secretary of the Interior announced a moratorium on new coal leasing on public lands pending completion of...
Read More
No Rhyme or Reason – Unreasonable projections in a world confronting...
Climate risk disclosure Report July 2016In the US, carbon-intensive sectors have made risk factor disclosures related to climate change for years but very little of it...
Read More
U.S. and European oil and gas companies are under increasing pressure from shareholders to stress test their businesses against a...
Read More
In April 2016, the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures published a report on Phase...
Read More
Oil majors could be worth up to $140 billion more by aligning production with climate targets
Read More
Carbon Tracker’s submission to UK Department of BIS consultation:...
Climate risk disclosure Report April 2016In 2013, the European Commission adopted proposals for a Directive amending the Accounting Directive in relation to the reporting...
Read More
The flaws in the business models of some of the largest US shale producers are becoming clear. Growing levels of debt are...
Read More
Carbon Tracker’s submission to the Parliament of Australia’s Senate...
Climate risk disclosure Report March 2016In February 2016, we were invited to contribute to the Australian Senate Economics References Committee’s inquiry into carbon...
Read More
Full Disclosure: Why Chevron Needs to Stress-Test the Business at...
Climate risk disclosure Report March 2016This paper examines Chevron’s current disclosures in the context of Carbon Tracker’s April 2015 Blueprint, where we...
Read More
Carbon Tracker & Sandbag written evidence on EAC Inquiry on...
Climate risk disclosure Report February 2016UK Environmental Audit Committee inquiry: Sustainability and HM Treasury The cross-departmental Environmental Audit Committee...
Read More
A análise feita pelo Carbon Tracker indica que entre 60% e 80% das reservas de carvão, óleo e gás do mundo não poderão ser...
Read More
Considerations for reporting and disclosure in a carbon-constrained world
Climate risk disclosure Report January 2016Hot on the heels of a historic climate deal in Paris the Carbon Tracker Initiative and the Climate Disclosure Standards Board,...
Read More
Recommended Strategic Risk Engagement Principles for Fossil Fuel Companies
Climate risk disclosure Report December 2015In 2011, Carbon Tracker asked whether the world’s capital markets were carrying a “carbon bubble”. Further analysis...
Read More
Fossile Energieunternehmen riskieren, 2 Billionen Dollar mit unwirtschaftlichen Projekten zu...
Read More
Zone de danger des 2 mille milliards de dollars d’actifs dévalorisés Les compagnies de combustibles fossiles...
Read More
The data is clear – the energy transition is underway, and the direction of travel is away from fossil fuels. But not everyone...
Read More
Carbon Tracker’s submission to HM Treasury consultation on energy...
Climate risk disclosure Report November 2015In late 2015, the U.K.’s economic and finance ministry sought public responses to a consultation concentrated on simplifying...
Read More
يشير الإنفاق السنوي الذي تبلغ قيمه 674 مليار دولار أمريكي على أصول...
Read More
283 مليار دولار من الغاز الطبيعي المسال "غير مجد اقتصاديا" لغاية 2025
Read More
هناك حاجة لقيام المستثمرين بتحدي ما يصل إلى 1.1 تريليون دولار أمريكي من...
Read More
يويورك، 22 سبتمبر 2014: يحدد بحث جديد اصدرته مبادرة Carbon Tracker اليوم مخاطر...
Read More
O estudo revela que, apesar de as reservas de combustíveis fósseis já excederem em muito o orçamento de carbono destinado a...
Read More
O estudo global sobre gás identifica 283 mil milhões de dólares em possíveis projetos de gás natural liquefeito (GNL) até...
Read More
A análise de risco assinala que muitos projetos petrolíferos com custos mais altos encontram-se num ponto demasiado alto na...
Read More
Uma nova investigação publicada hoje pela Carbon Tracker Initiative (CTI) descortina grandes riscos financeiros para os...
Read More
El gasto anual de 674 000 millones de dólares en activos de combustibles fósiles «inquemables» señala la incapacidad de...
Read More
Nuestro nuevo estudio global sobre el gas identifica proyectos de gas natural licuado (GNL) hasta el año 2025 por valor de...
Read More
Los inversores deben cuestionar la inversión petrolera de 1,1 billones de dólares para el próximo decenio La curva de...
Read More
Curvas de costes del suministro de carbono La investigación de CTI tiene por objeto suscitar un nuevo debate sobre el futuro...
Read More
Lost in Transition: How the energy sector is missing potential demand...
Energy transition Report October 2015This report is designed to challenge the conventional thinking and linear models which dominate the current scenarios for energy...
Read More
This paper, first presented at the 1st Global Stranded Assets Conference, hosted by the Smith School in Oxford September 2015,...
Read More
Der Trend weg von der Kraftwerkskohle – Teure neue Minen sind für Investoren unrentabel Eine neue Studie der Carbon Tracker...
Read More
283 Mrd. $ Flüssigerdgas 'unwirtschaftlich‘ bis 2025
Read More
Investoren müssen Ölinvestitionen in Höhe von 1,1 Billionen $ für das nächste Jahrzehnt hinterfragen
Read More
Investitionen von 674 Mrd. $ in 'unantastbare‘ fossile Brennstoffvorräte zeugen von Blindheit gegenüber enormen Finanzrisiken
Read More
La quantité de combustibles fossiles cotés sur les marchés de capitaux mondiaux est supérieure à celle pouvant être...
Read More
Quel est le risque financier des dépenses d’investissement consacrées au pétrole?
Read More
L’année 2015 n’a fait que confirmer l’éloignement des combustibles fossiles. Quel est le risque financier des dépenses...
Read More
Courbes d’offre du carbone Les études de CTI ont pour objectif d’encourager une nouvelle réflexion sur l’avenir de...
Read More
There has been much discussion of fossil fuel subsidies as both an inefficient use of public tax dollars and a barrier to the...
Read More
Low carbon scenarios do include the potential for gas demand to grow over the next decade. But if we are to stay within a carbon...
Read More
Fossil Fuel companies failing legal duty to report climate risk
Climate risk disclosure Report June 2015Some fossil fuel companies are failing in their legal duty to address climate risk in their reporting, a group of non-profit...
Read More
In this report we analyse the EU’s largest 5 power generators: Électricité de France (EDF), GDF Suez, Enel, E.ON and RWE, who...
Read More
The Carbon Tracker Initiative’s Submission to the Capital Markets Union...
Climate risk disclosure Report May 2015Carbon Tracker recently submitted comments to the European Commission's ongoing capital markets union (CMU)...
Read More
US shale production has prompted increased volatility in the oil markets, as exemplified by the 50% drop in prices during the...
Read More
Carbon Tracker is developing a transition road map for the fossil fuel industry. This will outline the steps we believe that the...
Read More
The market for thermal coal is in structural decline in the United States. Squeezed out by an abundance of cheap shale gas and...
Read More
The 2015 Oil Spending Review is in Full Swing With oil prices collapsing to between $50/$60 a barrel (at the...
Read More
In a letter to the U.S. Securities and Exchange Commission as part of its ongoing review of disclosure, the Carbon Tracker...
Read More
During 2014, following in the footsteps of Shell and ExxonMobil, oil and gas industry association IPIECA published a “fact...
Read More
This Carbon Tracker report shows how rural communities in Africa and India suffering most from a lack of modern energy can...
Read More
Recognising Risk, Perpetuating Uncertainty. A baseline survey of climate...
Climate risk disclosure Report October 2014In partnership with Ceres, CDP and CDSB, Carbon Tracker has assessed the responses from over 80 fossil fuel companies to a...
Read More
Our research on coal consists of a package of detailed analyses of coal supply, demand and financial trends. The accompanying...
Read More
Shell underestimates risk for up to $77 bln of high cost oil projects The Carbon Tracker Initiative (CTI) and Energy...
Read More
This latest piece of research from Standard & Poors’ coal analysts in collaboration with CTI explores for the first time...
Read More
Since the turn of the century, China has almost single-handedly been driving global thermal coal consumption growth. Changes in...
Read More
This report is a risk analysis which provides a tool for the majority of investors who cannot simply divest, so they can...
Read More
Exxon: Is business as normal the right strategy? Earlier this month, ExxonMobil published a document entitled, “Energy and...
Read More
Carbon Tracker respond to the US Department of State's Final Supplemental Environmental Impact Statement (FSEIS) with our new...
Read More
Carbon content is a key financial element of fossil fuel reserves. In December 2013, Carbon Tracker submitted a letter to the...
Read More
Following on from Carbon Tracker’s Unburnable Carbon 2013 global analysis, we release this report in collaboration with The...
Read More
Carbon Avoidance: Accounting for emissions hidden in reserves
Climate risk disclosure Report October 2013This new research from Carbon Tracker and the Association of Chartered Certified Accountants reveals that current financial...
Read More
The fourth in the series of Carbon Tracker's Unburnable Carbon reports, focuses on Brazil - a country with the fascinating...
Read More
This new research from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment at LSE calls...
Read More
Carbon Tracker and Standard & Poors have been working together on the implications of carbon constraints for credit ratings...
Read More
This new analysis from the Carbon Tracker Initiative finds that the current coal reserves earmarked for the South African market,...
Read More
This is the original report which pioneered the concept of the 'Carbon Bubble'. This award-winning analysis by Carbon...
Read More