Climate Risk

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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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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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