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 […]

April 17, 2017 Read More →

More News and Commentary

Insurance Looms As Major Issue For New Coal Plant Construction

Financial Times: The world’s biggest insurers are opening up a new front in efforts to cut down on coal use by refusing to offer cover to miners and power generators that use the polluting fuel. A range of investors, including insurance companies and pension funds have cut or eliminated holdings in companies that make money […]

January 8, 2018 Read More →

NYC Pension Funds Weigh Policy Change That Would Favor Renewables Over Fossil Fuels

Reuters: New York City Comptroller Scott Stringer said on Tuesday his office would propose to the trustees of the NYC pension funds to explore stopping additional investments in fossil fuels and increasing investments in clean energy. The proposals in the coming weeks will also include divesting current holdings in fossil fuel companies as part of […]

December 20, 2017 Read More →

BHP, Biggest Miner, Is Quitting Global Coal Lobby

New York Times: One of the world’s largest coal companies, acknowledging the growing momentum toward addressing climate change, said it planned to pull out of a major industry group over its environmental stances. B.H.P. Billiton, the British-Australian mining company, said in a report Tuesday that it planned to withdraw from the World Coal Association, an […]

December 19, 2017 Read More →

Dutch Banking Giant ING Will End Most Coal-Related Financing

Reuters: ING by the end of 2025 will stop funding any utility company which relies on coal for more than 5 percent of its energy, the Dutch bank said on Tuesday. It will, however, continue to help companies with renewable energy projects and also support new clients whose reliance on coal is less than 10 […]

December 13, 2017 Read More →

World Bank to Discontinue Support for Oil and Gas Projects

National Observer (Canada): The World Bank has confirmed that it will stop financing upstream oil and gas projects after 2019 except under exceptional circumstances in the world’s poorest countries. The global financial institution made the announcement at climate summit in Paris on Tuesday, which took place roughly two years after the historic COP21 climate conference […]

December 13, 2017 Read More →

Exxon Capitulates to Investors Who Want More Climate-Risk Exposure

Fortune: ExxonMobil said it would publish new details about how climate change could affect its business, in a move aimed at appeasing critics and forestalling another proxy fight next year. Until now, it had opposed such a move, in contrast to other western oil and gas majors such as Royal Dutch Shell, BP and Total. […]

December 12, 2017 Read More →

IEEFA Op-Ed: ‘Pension Funds, Sell Your Gas and Oil Stock’

Former Blue-Chip Investments Bear a Greater Resemblance Now to Speculative Holdings

Last month, Norway’s $1 trillion pension fund announced plans to drop oil and gas stocks from its core benchmark stock portfolio. The move was of note because it served as an important acknowledgement by a major institutional investor that such holdings have lost their status as mainstream, blue-chip investments and are now considered speculative. It […]

December 4, 2017 Read More →

Pressure From Institutional Investors for Better Climate-Risk Metrics

SNL: Major asset managers are actively assessing environmental, social and governance risk factors in their portfolios to satisfy the demands of institutional clients, putting momentum behind the adoption of sustainable accounting standards by larger corporate entities. The lingering question behind initiatives to integrate these environmental, social and governance, or ESG, standards in investment portfolios centers […]

December 1, 2017 Read More →

The U.S. Military Case for Regional Renewable-Energy Grids

KVUE (Austin): “Acknowledge. You don’t have to give it a political label. Science doesn’t care if you believe in it or not,” retired four-star Air Force general Ronald Keys said. Keys is now with a group called CNA that advises the United States military about energy and climate threats to homeland security. “If we are […]

November 27, 2017 Read More →

Op-Ed: How Is Trump Failing to Put America First? Let Us Count the Ways

San Diego Union Tribune: Now that President Donald Trump has enfeebled the Environmental Protection Agency, reversed climate regulations opposed by fossil fuel interests and announced U.S. withdrawal from the Paris Climate Accord, it is right to examine whether his agenda on climate change really puts “America first,” which he so often proclaims is his overriding […]

November 17, 2017 Read More →