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

Six major sovereign wealth funds look for greener future

ABC News: The sovereign wealth funds of major oil-producing countries have agreed upon a common roadmap to encourage investments toward a greener economy. The six funds from Norway, United Arab Emirates, Saudi Arabia, Qatar, Kuwait and New Zealand released a joint framework Friday to encourage investors to take climate-related risks into consideration when investing. They […]

July 6, 2018 Read More →

Major investor groups expand climate change target list

S&P Global Market Intelligence ($): A large group of global investors and asset managers have added 61 companies to the list of corporations they will push to take more action on climate change issues. When Climate Action 100+, which is backed by 289 investors with nearly $30 trillion in assets under management, launched in December […]

July 3, 2018 Read More →

Regulators likely to require more climate risk disclosure from Australian coal firms

Australian Financial Review: ASX-listed companies with high carbon exposures—such as Whitehaven Coal, Yancoal and New Hope Group—will have to ramp up their climate risk disclosures from the brief mentions in past financial statements. Minter Ellison climate lawyer Sarah Barker told The Australian Financial Review that Australian Securities and Investments Commission member John Price’s speech on […]

June 21, 2018 Read More →

U.K. pension funds given OK to divest potentially stranded fossil fuel investments

The Guardian: Managers of the £1.5 trillion invested in Britain’s workplace pension schemes are to be given new powers to dump shares in oil, gas and coal companies in favor of long-term investment in green and “social impact” opportunities. Government proposals published on Monday are designed to give pension fund trustees more confidence to divest […]

June 18, 2018 Read More →

New England utility National Grid aims for 80% CO2 cut by 2050

Utility Dive: New research from RMI last week illustrates that broad decarbonization will require efforts across many sectors, including shifting building heat to electric. National Grid’s 80×50 strategy takes a similar approach, calling for “three big shifts in our energy systems” that could reduce emissions 40% by 2030 and 80% within three decades. The plan calls […]

June 18, 2018 Read More →
IEEFA update: Fund managers who acquiesce to ExxonMobil’s climate-risk denial do their investors a disservice

IEEFA update: Fund managers who acquiesce to ExxonMobil’s climate-risk denial do their investors a disservice

New York state comptroller Thomas P. DiNapoli drops the ball

It was a failure of epic proportions when, after demanding but not getting action last year, most shareholders voted to re-elect ExxonMobil’s board of directors on May 30, abdicating their duty to hold the company to account. Sixty-two percent of shareholders in 2017 supported a resolution calling for ExxonMobil to improve its climate risk disclosures. […]

Fossil Fuel Divestment Takes Hold in Japan

NBC News: Buddhist priest Tomonobu Narita admits he hadn’t thought much about energy policy until the Fukushima nuclear meltdown forced tens of thousands of people to flee their homes in 2011. Now he’s at the forefront of a budding movement in Japan to withdraw money from banks that provide finance for environmentally harmful energy projects. […]

May 30, 2018 Read More →

Royal Bank of Scotland Ends Financing for New Coal Projects

The Guardian: Royal Bank of Scotland will no longer fund Arctic oil projects and has pledged to cut lending to firms profiting largely from coal as part of an updated energy policy. The changes cover the mining, power and oil and gas sectors and are aimed at taking a tougher line on climate change. They […]

May 29, 2018 Read More →

Insurance Company Retreat From Coal Gathers Steam

Sydney Morning Herald: A quiet revolution is happening in insurance, as many of the industry’s big players pull their backing and investment from the coal power sector, potentially raising the price of electricity. About 10 percent of global insurance assets are being impacted by these changes, but risk management firm Aon believes that as the […]

May 21, 2018 Read More →

Moody’s: Munis, Co-Ops Face Major Risks From Coal Plant Closures

Washington Examiner: Credit ratings giant Moody’s is warning that a big chunk of the nation’s electric utilities are at risk…because of the transition toward renewable energy, which is occurring despite President Trump’s decision to pull the U.S. out of the Paris climate change agreement. The report, issued Tuesday, says not-for-profit public power and cooperative utilities, […]

May 18, 2018 Read More →