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  ( – 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 […]

April 17, 2017 Read More →

More News and Commentary

Judge rules climate risk needs to be considered in Montana coal mine expansion

Associated Press: U.S. officials have again been faulted by a federal judge for failing to adequately consider the potential climate change effects of expanding a massive coal mine in the sagebrush-covered hills of southeastern Montana. U.S. Magistrate Judge Timothy Cavan recommended in a Monday ruling that the Interior Department be given 240 days to re-analyze […]

February 14, 2019 Read More →

Judge blocks Australian coal mine in landmark climate change ruling

Reuters: Developers have lost a court appeal to build a coal mine in Australia’s Hunter Valley over its potentially “dire” environmental impact in the country’s first legal review of a coal mine project to hear evidence from a climate scientist. In the landmark ruling, Justice Brian Preston on Friday denied the appeal on the Rocky […]

February 8, 2019 Read More →

Germany’s Merkel backs coal commission’s 2038 phase-out date

Reuters: German Chancellor Angela Merkel said on Tuesday that her country would withdraw from coal-fired power production by 2038, showing her support for the deadline recommended by a government-appointed commission. The so-called coal commission said last month that Germany should shut down all of its coal-fired power plants by 2038 at the latest and proposed […]

February 5, 2019 Read More →

Japanese firms abandon plans for 2GW coal plant near Tokyo

Reuters: Japan’s Idemitsu Kosan, Kyushu Electric Power and Tokyo Gas said on Thursday they have given up their plan to build a 2 gigawatt (GW) coal-fired power station in Chiba, near Tokyo, as it would not be economically feasible. The move follows a similar decision by Chugoku Electric Power and JFE Steel, a unit of […]

January 31, 2019 Read More →

Middlebury College votes to divest from fossil fuels

Burlington Free Press: Middlebury College announced on Tuesday that it would divest its endowment from fossil fuels, responding to years of pressure by students and professors and joining the growing list of colleges and universities that have taken the step as a means of combating climate change. Last April, the college’s student government sponsored a […]

January 30, 2019 Read More →

California utility PG&E makes it official, files for bankruptcy protection

CNBC: Power provider PG&E filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. The owner of the biggest U.S. power utility has filed a motion seeking court approval for a $5.5 billion debtor-in-possession financing, it said in a statement. PG&E listed assets […]

January 29, 2019 Read More →

German coal phase-out plan will shutter first 12.7GW of capacity by 2022

Reuters: Germany should shut down all of its coal-fired power plants by 2038 at the latest, a government-appointed commission said on Saturday, proposing at least 40 billion euros ($45.7 billion) in aid to regions affected by the phase-out. The roadmap proposals, a hard-won compromise reached early on Saturday after more than 20 hours of talks, […]

January 28, 2019 Read More →

Key details of German coal phase-out plan still to be finalized as deadline looms

Clean Energy Wire: Germany’s detailed coal exit path and the end-date to coal-fired power generation remain unknown only days before a highly anticipated phase-out proposal is due to be published. A leaked draft of the final report of the country’s coal commission seen by the Clean Energy Wire suggests agreements on compensation for coal plant […]

January 24, 2019 Read More →

Black Rock to launch environmentally friendly money market fund

Reuters: BlackRock Inc is planning a new fund for investors looking to park their cash safely while helping the environment, expanding options for “socially responsible” investments, a filing with U.S. market regulators showed on Tuesday. The world’s largest fund manager told the U.S. Securities and Exchange Commission that it wants to launch a money-market fund […]

January 23, 2019 Read More →

Analysis finds ‘verdant’ MacArthur Foundation still invests in fossil fuels

Nonprofit Chronicles: Eighteen months ago, the people who manage the endowment at the John D. and Catherine T. MacArthur Foundation got some bad news: Investments they had made in funds managed by EnerVest, a Houston-based private equity firm that operates more than 33,000 oil and gas wells across the US, had plummeted in value to […]

January 17, 2019 Read More →