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

Australia Moves Closer to Resolving Long-Running Energy, Environmental Disputes

Reuters: Australia moved a step closer on Friday to ending a decade of political bickering over climate and energy policy, with broad support emerging for a national power plan that would also include emissions cuts. State energy ministers agreed to push ahead with a detailed design for a National Energy Guarantee, as proposed by the […]

April 20, 2018 Read More →

In ‘Attack on Shareholder Rights,’ SEC Seeks to Sideline Activist Investors

Washington Post: Shareholders battling corporate management over everything from greenhouse gas emissions to discrimination to wasteful K-Cups are finding it more difficult to put their proposed proxy resolutions to votes as a result of new guidance issued by the Securities and Exchange Commission. The SEC has widened the definition of “micromanaging” and business relevance, and […]

April 9, 2018 Read More →

Shell Oil Knew of Climate-Change Likelihoods Decades Ago

InsideClimate News: Internal company documents uncovered by a Dutch news organization show that the oil giant Shell had a deep understanding, dating at least to the 1980s, of the science and risks of global warming caused by fossil fuel emissions. They show that as the company pondered its responsibility to act, Shell’s scientists urged it […]

April 5, 2018 Read More →

Big Investors Continue to Press for Climate-Risk Transparency Across Oil and Gas Industry

S&P Global Market Intelligence ($): Investors concerned about environmental issues hope big fund managers, such as Vanguard Group Inc. and BlackRock Inc., will continue to push oil and gas companies to make plans for a carbon-constrained future, even after a decision by SEC staff that has dampened the momentum of such shareholder motions. Sixteen oil […]

April 5, 2018 Read More →

BHP Quits World Coal Association Over Differences on Climate Risk

Reuters: Global miner BHP Billiton said on Thursday it had made a final decision to leave the World Coal Association (WCA) over differences on climate change but would remain a member of the U.S. Chamber of Commerce. BHP has largely quit mining coal for power plants, but is the world’s largest exporter of coal for […]

April 5, 2018 Read More →

ExxonMobil ‘in the Hot Seat’ Over Its Climate-Risk Nonchalance

Bloomberg News: Exxon Mobil Corp. is in the hot seat again over its reply to last year’s unprecedented investor drive for an analysis of how carbon curbs could affect the oil giant’s business over the long term. The leader of that drive, the New York State Common Retirement Fund, has sent Exxon a series of […]

April 4, 2018 Read More →

Citing Rising Risk, $67 Billion California Pension Fund Will Sell Fossil Fuel Holdings

Pension & Investments: Chief Investment Officer Jagdeep Singh Bachher, speaking at the March 13 investment subcommittee meeting in Los Angeles, said that in the long term, the $66.6 billion pension fund and $11.5 billion endowment are going to move out of fossil fuel investments. “The traditional approach, not only with us but other investors, was […]

April 4, 2018 Read More →

IEEFA Update: ExxonMobil’s Empty Climate-Risk Report

A Majority of Shareholders Want—and Deserve—More Transparency

Institutional-investor coalitions and shareholder-advocacy groups are deciding their next steps in the push for changes to ExxonMobil’s board as a result of the company’s weak recent climate-risk report. That report—as we describe in a recent investor memo—is defective and largely unresponsive to a resolution from shareholders, led by the office of New York State Comptroller […]

ExxonMobil Loses Bid to Stop Inquiry Into Its Climate Risk Policies

Associated Press: A federal judge on Thursday dismissed a lawsuit by Exxon Mobil aimed at stopping an investigation by New York and Massachusetts officials into whether the oil giant misled investors and the public about its knowledge of climate change and how the issue could affect its business. “Exxon’s allegations that the AGs are pursuing […]

March 30, 2018 Read More →

Climate-Risk Ruling Throws a Wrench in Federal Coal-Lease Program

Washington Examiner: A judge is forcing the Trump administration to sit down with environmental groups to figure out how to balance climate change concerns with continued mining in the West that supplies 40 percent of the nation’s coal. U.S. District Court Judge Brian Morris in Montana issued a ruling Monday that the Interior Department must […]

March 27, 2018 Read More →