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

IEEFA Europe: PGE’s pro-coal strategy in Poland under fire

EU decision to end capacity payments is a blow to utility’s plans

LONDON—The coal-heavy strategy at Poland’s biggest utility, PGE, was hit this week by a provisional European Union agreement to end coal power capacity payments from 2025, adding to the utility’s existing woes from rising carbon prices. Across Europe, utilities have rushed for the coal exit door, driven by increasingly favourable economics for renewables and smart […]

December 21, 2018 Read More →
IEEFA Japan: Early days, but momentum away from coal is building
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IEEFA Japan: Early days, but momentum away from coal is building

From September to December 2018, the prime minister, corporations and lenders have been pivoting towards renewables

SYDNEY –  Over the last decade Japan has consistently been placed in the top three leading global exporters of financially supported coal-fired power engineering and technology capacity. In recent months however there are emerging signs of a strategic pivot away from coal, driven by a recognition of the stranded asset risks in thermal coal mining […]

and December 21, 2018 Read More →

IEEFA update: Norway’s recognition of a declining oil and gas sector sends a message

Early warnings of long-term economic and fiscal downturn require action now

The government of Norway has identified a problem that will preoccupy it for the next fifty years, and that should also cause the rest of the world to sit up and pay attention. THE PROBLEM:  The revenues and dividends from Norway’s vast oil and gas holdings that have fueled the country’s economy and balanced its […]

December 21, 2018 Read More →

Major insurers back away from Adani’s planned Carmichael mine in Australia

S&P Global Market Intelligence ($): A group aggressively working across the globe to push insurance companies away from the coal sector say some of the world’s largest insurers will not be covering Adani Mining Pty Ltd’s controversial Carmichael coal mine in Australia. Ten of the world’s top insurance companies have explicitly refused to insure the […]

December 20, 2018 Read More →

IEEFA U.K.: Local public pension assets tread water, driving fund managers to give infrastructure a closer look

An often-neglected and increasingly attractive asset class that includes renewables

LONDON — Local government pension schemes representing more than five million public sector workers saw asset values nudge up last year, trailing bumper stock market growth the year before, as some prepared to shift assets into infrastructure under a government plan to help them invest more in roads, bridges and renewable energy projects. Collectively, local […]

December 18, 2018 Read More →

Mitsubishi to sell its last two Australian thermal coal mines

Reuters: Japan’s Mitsubishi Corp said on Tuesday it will sell its stakes in two Australian thermal coal mines for A$750 million ($539 million), a move that means its exit from upstream thermal coal amid growing pressure from environmental activists. The stake sales come as a growing number of companies and pension funds across the globe […]

December 18, 2018 Read More →

IEEFA update: Norway moves to invest in unlisted renewable energy

When the world’s biggest fund speaks, the markets listen

Norway’s pension fund, the Government Pension Fund Global (GPFG), has launched a modest investment initiative in unlisted renewable energy infrastructure. And the truth is, when GPFG, the world’s largest sovereign wealth fund, makes a modest investment, it is anything but modest. GPFG, worth more than $1 trillion, has historically strayed only infrequently from a conservative […]

December 17, 2018 Read More →

Op-ed: Shell is playing games with new carbon emissions plan

Financial Times ($): While it is true that Royal Dutch Shell gave shareholder activists on climate an early Christmas present, agreeing to reduce its carbon footprint by 20 per cent by 2035 and 50 per cent by 2050 (FT View, December 7), a closer look reveals that the commitment is a cynical game. Shell is […]

December 13, 2018 Read More →

European development bank plans to end coal financing

Financial Times: The European Bank for Reconstruction and Development, one of the world’s leading development banks, is expected to vote on Wednesday to adopt a “no coal, no caveats” financing policy and slash lending to oil exploration and production projects as the organisation seeks to combat climate change. The move, if approved as expected by […]

December 12, 2018 Read More →

China pushes outdated coal technology onto other countries

AFP: Even as China struggles to curb domestic coal-fired power and the deadly pollution it produces, the world’s top carbon emitter is aggressively exporting the same troubled technology to Asia, Africa and the Middle East, an investigation by AFP has shown. The carbon dioxide (CO2) emissions from these Chinese-backed plants could cripple global efforts to […]

December 6, 2018 Read More →