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

Investor group targets planned GE coal plant in Kenya

Thomson Reuters Foundation: A group of investors in U.S. conglomerate General Electric (GE) has publicly opposed its plans to buy a stake in a Kenyan coal-fired plant, claiming the project would damage the environment and undermine efforts to fight global warming. In a public letter to GE, nearly five dozen institutional and individual shareholders called […]

July 20, 2018 Read More →

U.K. to require companies to release energy use, CO2 data

Reuters: The British government will force large companies to report their energy use, carbon dioxide emissions and energy efficiency measures in their annual reports from April next year, it said on Wednesday. The government said it wants businesses and industry to improve energy efficiency by at least 20 percent by 2030. A previous company reporting […]

July 18, 2018 Read More →

U.K. public pension fund to stop investing in coal

Financial News London ($): The UK public pension fund Nest will cut out coal, uranium and cobalt from its new commodity investments, it said on Monday, as it recruited US-based CoreCommodity Management to manage its money. Nest, which planned a move into commodity assets six months ago, said that CoreCommodity has agreed to take on […]

July 17, 2018 Read More →

‘Exxon, once a “perfect machine,” is running dry’

Wall Street Journal: Exxon faces a number of challenges, including investigations of its accounting and tax practices as well as lawsuits by cities and states seeking funds to pay for the effects of climate change. Its biggest problem is one the giant has seldom faced in its 148-year history: It isn’t making as much money […]

July 16, 2018 Read More →

Japan’s Nippon Life to end lending for new coal projects

The Asahi Shimbun: Nippon Life Insurance Co. plans to become the first leading Japanese financial institution to reject investments and loans into new coal-fired power generation projects at home and abroad, a company source said July 12. The decision, made by Japan’s largest life insurance company, may have a domino effect across the financial industry. […]

July 16, 2018 Read More →

Bankers turning toward green lending as climate risks rise

Bloomberg: Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change. “It is coming, it’s a trend that’s started,” said Louis Douady, head of corporate social responsibility at Natixis SA in Paris. “The intention is to adapt our […]

July 16, 2018 Read More →

Ireland to divest fossil fuel investments

The Guardian: The Republic of Ireland will become the world’s first country to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament. The state’s €8bn national investment fund will be required to sell all investments in coal, oil, gas and peat “as […]

July 13, 2018 Read More →

Norway sovereign funds dumps coal-heavy PacifiCorp bonds

S&P Global Market Intelligence ($): Norway’s central bank, which manages the country’s $1 trillion sovereign wealth fund, has sold its holdings of bonds issued by PacifiCorp, a U.S. utility owned by Warren Buffett, in its latest round of ethical and environmental divestitures. Norges Bank said it has excluded PacifiCorp from the portfolio of the Government […]

July 11, 2018 Read More →

Church of England to divest from companies fighting Paris climate accord

Bloomberg: The Church of England took another step in prodding companies to adopt a green strategy, saying its 12 billion pounds ($16 billion) in funds will divest those that aren’t aligning themselves with the Paris Agreement on climate change. The church’s governing General Synod passed a motion proposed by Canon Giles Goddard of its environmental […]

July 10, 2018 Read More →

Swiss Re steps away from coal insurance business

Greentech Media: Swiss Re took a step forward this week in its commitment to manage carbon-related sustainability risks and support the transition to a low-carbon economy. As of Monday, the Zurich-based firm no longer provides insurance or reinsurance to businesses with more than 30 percent exposure to thermal coal. The thermal coal policy announced in […]

July 6, 2018 Read More →