Climate Risk

IEEFA Research

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

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More News and Commentary

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

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Danish Pension Fund PKA Dumps Canadian Oil

Financial Times: Denmark’s fourth-largest pension fund has pulled its investments in five Canadian oil producers over concerns that fossil fuel businesses are at risk of heavy losses as governments globally attempt to tackle climate change. PKA, which oversees the retirement income of 300,000 Danish workers, last month divested from Athabasca Oil, Canadian Natural Resources, Cenovus […]

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On the Blogs: After Coal?

Syracuse.com: Coal is here for a good long while. The Unites States generates roughly 30 percent of its power from coal, and that won’t disappear overnight. But its role will diminish regardless of any policy rollbacks that the Trump administration puts forth. Market forces are at work. Consider Duke Energy, one of the nation’s largest […]

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California Pension Fund Pushes Kinder Morgan to Disclose Climate-Change Portfolio Risk

Law360: The California Public Employees’ Retirement System on Thursday threw its weight behind a shareholder proposal urging Kinder Morgan Inc. to disclose the risks posed to its business by global efforts to combat climate change, a proposal opposed by the oil and gas infrastructure giant’s board of directors. CalPERS, which says it owns approximately 4.73 […]

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$5.1 Trillion BlackRock, World’s Biggest Money Manager, Will Begin to Weigh Climate Risk on Its Holdings

E&E: The deep-pocketed investment firm BlackRock Inc. today announced a series of steps to address the financial risks of climate change, decisions that could send shock waves throughout the private sector. Studying the disclosure of climate change risks, including physical risks like rising waters and government policies to cap greenhouse gas emissions, will be one […]

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Exxon’s Latest Headline-Risk Wrinkle: Rex Tillerson’s Secret Emails

InsideClimate News: While he was chief executive of ExxonMobil, current secretary of state Rex Tillerson used an alias email account for eight years to discuss climate change and the risks it posed to the company’s business, according to investigators for New York Attorney General Eric Schneiderman. Those investigators say the company concealed the shadow emails […]

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Exxon’s Climate-Risk Problem

From the Huffington Post: As recently as 2016, Exxon Mobil was still paying millions to groups that either question fossil fuels’ role in climate change or deny the science outright. During the last two election cycles, the firm donated heavily to Republicans, who remain one of the only major political parties in the world to […]

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NYC Pension Funds to Assess Climate Risk to $171 Billion Portfolio

Hilary Russ for Reuters: New York City’s $170.6 billion pension system will analyze its carbon footprint for the first time amid concerns of potential investment risks from companies that fail to adapt to climate change, its custodian said in a statement on Thursday. Trustees for the five funds that make up the system selected Mercer […]

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ExxonMobil’s Many Woes

Bradley Olson for the Wall Street Journal: Exxon Mobil Corp. said Tuesday it wrote down the value of more than $2 billion in U.S. assets, departing from decades-long practice amid an investigation by securities regulators, as the world’s largest publicly traded oil company posted its lowest yearly earnings in 20 years. The move follows an […]

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IEEFA Energy Swamp Watch: An Oil-Industry Bailout Is in the Works in Washington

Rex Tillerson’s Objective as Head of U.S. Foreign Policy Would Be to Orchestrate a Worldwide Price Increase

Rex Tillerson, after 10 years at the helm of ExxonMobil, is leaving behind a company with much lower revenues than when he took over, higher long-term debt, lower payouts to shareholders and declining cash reserves. ExxonMobil during Tillerson’s tenure has also had to scale back its oil-reserve numbers as a prolonged oil price decline has […]

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