Climate Risk

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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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Oil, Gas and Coal Industries Consolidate Power in Washington

Juliet Eilperin, Steven Mufson and Philip Rucker for the Washington Post: The oil, gas and coal industries are amassing power throughout Washington — from Foggy Bottom, where ExxonMobil chief executive Rex Tillerson is Trump’s nominee to be secretary of state, to domestic regulatory agencies including the departments of Energy and Interior as well as the […]

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‘21st-Century Book-Burning’ Seen in U.S. Political Hostility to Climate Data

Annalee Grant for SNL Beta: People all around the nation are burning the midnight oil trying to prepare for potential fallout from the incoming Trump administration’s pledge to do away with “politicized” research related to climate change. In an effort to preserve existing information in that area, a community of scientists has begun backing up […]

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Exxon’s Climate-Risk Obfuscation, Updated

David Kaiser and Lee Wasserman for The New York Review of Books: When Exxon began to “emphasize the uncertainty” of climate science, the scientists who espoused its positions were often veterans of those earlier denial campaigns. Among them were Fred Seitz, Fred Singer, Robert Jastrow, and Bill Nierenberg. They had all been reputable, prominent physicists […]

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On the Blogs: Climate Pact Will Drive Decline of Coal-Fired Electricity in Europe, China and India

Ken Silverstein for Environmental Leader: It’s all in the context of the Paris accord, signed by 191 countries in December 2015. Last week, it was ratified in Marrakesh. Under the agreement, countries will submit new blueprints every five years. The goal remains to limit global temperature increases to no more than 2 degrees Celsius by […]

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Moody’s: Climate Change Is a Growing Risk Factor

Helen Reid for Reuters: Countries’ creditworthiness could be increasingly affected by climate change, with African and South Asian sovereigns most susceptible to the economic effects of global warming, ratings agency Moody’s said on Monday. By contrast, Western Europe, North America and Australia as well as the huge landmasses of Russia and China were least vulnerable, […]

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Resistance, Still, to Acknowledging Climate Risk Among Major Fossil-Fuel Companies

John H. Cushman Jr. for InsideClimate News: A methodical review of the world’s dominant fossil fuel producers has documented their poor performance—in some cases, egregious failure— in taking responsibility for their emissions of greenhouse gases and moving effectively to confront climate change. “None of them has made a clean break from disinformation on climate science […]

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On the Blogs: The National Security Case for an Orderly Energy Transition

David Titley for TheConversation.com: Climate change affects our security in two ways. First, it causes stresses such as water shortages and crop failures, which can exacerbate or inflame existing tensions within or between states. These problems can lead to state failure, uncontrolled migration and ungoverned spaces. On Sept. 21 the National Intelligence Council issued its […]

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