Climate Risk

IEEFA Research

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

Leaving the ‘dirty’ gas in the ground might now be the best course of action

20 October 2021 (IEEFA Australia): Even if it employed carbon capture and storage, Barossa gas will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain, making it one of the more expensive and dirtiest gas projects in the world, finds a new report from the Institute for Energy Economics […]

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

Climate policy failure will shrink Australia’s GDP by 6% and increase net debt in NSW to 100% by 2060, with taxpayers footing the bill

20 October 2021 (IEEFA Australia): Australia’s failure to commit to net zero targets or any credible climate policy is a growing economic threat to New South Wales and other states, argues a new report by the Institute of Energy Economics and Financial Analysis (IEEFA). The Reserve Bank of Australia’s deputy governor Guy Debelle last week […]

and October 20, 2021 Read More →
IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

An ‘essential industry’ to the U.S. economy runs in the dark

October 18, 2021 (IEEFA) — Despite its growing importance to the U.S. economy, the nation’s plastics industry remains a heavily concentrated sector taking advantage of an opaque, unregulated price-setting mechanism to bolster profits for major oil and gas companies, as well as plastic producers. The sector, which has increased prices throughout the year, was deemed […]

IEEFA: U.S. push for LNG in the Philippines paints unrealistic picture of global prices and market viability

IEEFA: U.S. push for LNG in the Philippines paints unrealistic picture of global prices and market viability

Overly optimistic claims about financial, economic and environmental benefits of LNG

Sept. 23, 2021 (IEEFA) – A recent white paper sponsored by the U.S. Agency for International Development (USAID) promotes the benefits of liquefied natural gas in the Philippines. The report, however, is based on questionable assumptions about global LNG prices, long-term demand and market viability of U.S. exports to price-sensitive countries in Asia, according to […]

and September 23, 2021 Read More →
IEEFA: Accepting gas power plants as sustainable investments in Asian taxonomies heightens greenwash risk

IEEFA: Accepting gas power plants as sustainable investments in Asian taxonomies heightens greenwash risk

Accommodating the gas sector risks diluting standards and discouraging new pools of green capital

21 September 2021 (IEEFA Asia): Incorporating gas-powered generation as a sustainable investment into Asian taxonomies could have unintended consequences, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Doing so could lock Asia into a high-emitting future while also posing a credibility and greenwashing problem that Asian policymakers and ESG […]

and September 21, 2021 Read More →
IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

The government is increasing issuance of gas exploration permits in the offshore sector ignoring risks imposed by global decarbonisation

20 September 2021 (IEEFA Australia): Increasing issuance of exploration permits over production, the Australian government has given the green light to oil and gas giants including Santos and Woodside to potentially spend $AUD5.1 billion throughout the next six years on risky offshore exploration activities despite industry-low success rates and the global energy transition, finds a […]

IEEFA U.S.: Municipal ratepayers face mounting costs from expensive American Municipal Power projects

Gap between costs from Prairie State, Combined Hydro Project and market prices continues to grow

September 9, 2021 (IEEFA)—Newly available data shows American Municipal Power’s (AMP) Prairie State and Combined Hydro Project have caused costs to continue climbing for municipal ratepayers, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA).  Data covering January 2020 through July 2021 showed that Cleveland Public Power (CPP) and its […]

IEEFA U.S.: Texas confronts decline in oil and gas industry

IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

IEEFA Australia: AGL Energy has lost over 70% of its market value, destroying A$12 billion in shareholder wealth

IEEFA Australia: AGL Energy has lost over 70% of its market value, destroying A$12 billion in shareholder wealth

It’s an (expensive) sorry tale when companies ignore shareholders and continue to invest in fossil fuels

22 July 2021 (IEEFA Australia): In failing to realise its early green ambition AGL Energy, one of Australia’s biggest electricity generators and retailers wiped over 70% off its market value in just four years, destroying A$12 billion in shareholder wealth, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Author […]

IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels

IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels

Top debt and equity investors committed over $300 billion in 2020 into building renewable energy capacity

19 July 2021 (IEEFA Australia): Despite the economic disruption from COVID-19, top global debt and equity investors are continuing to drive capital into the renewable energy infrastructure sector due to its consistency in providing investment opportunities, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Global investors are accelerating their […]

More News and Commentary

G-20 to focus on stopping financing of foreign coal-fired power plants

Bloomberg ($): Group of 20 diplomats have all but given up on their lofty goal of consigning coal to history and are instead closing in on a more modest plan to stop governments funding foreign coal-fired power plants, according to people familiar with the situation. With the energy crisis changing the dynamics of diplomatic talks, […]

October 22, 2021 Read More →

U.S. financial regulators release proposals for climate risk management

Huffington Post: Climate change could bombard the U.S. financial system on many fronts, and the nation’s growing dependence on natural gas for heating and electricity requires particular scrutiny as regulators scramble to catch up on the threat. That’s the conclusion of a landmark report from the Financial Stability Oversight Council, the federal entity established after […]

October 22, 2021 Read More →

Ameresco signs deal to deliver 537.5 megawatts of storage to California

Energy Storage News: Clean energy solutions provider Ameresco has contracted with California investor-owned utility Southern California Edison (SCE) to deliver battery energy storage systems (BESS) totalling 537.5MW of output and 2,150MWh. Ameresco said yesterday that this comprises three separate four-hour duration BESS projects, each connected to a distribution network substation pocket and designed to mitigate […]

October 22, 2021 Read More →

Romania plans tripling of solar capacity to 4.25 gigawatts by 2030

Balkan Green Energy News: Solar photovoltaic capacity in Romania is projected to triple during 2021-2030, from 1.39 GW in 2020 to 4.25 GW in 2030, according to a report titled Romania Power Market Outlook to 2030, Update 2021 – Market Trends, Regulations, and Competitive Landscape. The Romanian government is expected to establish a coal commission […]

October 22, 2021 Read More →

Essentia begins operations at 475-megawatt solar plant in Brazil

PV Tech: Essentia Energia has begun operations at its 475MW Sol do Sertao solar power plant in the Brazilian state of Bahia. Sol do Sertao is the second largest solar project in Brazil and the third largest in Latin America, according to Essentia. The plant, which took 19 months to complete, utilises more than one […]

October 22, 2021 Read More →

State-owned GAIL to build largest green hydrogen plant in India

The Economic Times: State-owned GAIL (India) Ltd will build India’s largest green hydrogen-making plant as it looks to supplement ‎its natural gas business with carbon-free fuel. Speaking at India Energy Forum by CERAWeek, GAIL chairman and managing director Manoj Jain said the company has floated a global tender to procure an electrolyser. “It will take […]

October 22, 2021 Read More →

Axis maps exit from thermal coal insurance and investments by 2040

Business Insurance: Axis Capital Holdings Ltd. said Wednesday it will stop insuring, reinsuring and investing in thermal coal business by 2030 in some countries, including the United States, and by 2040 globally. The Bermuda-based insurer and reinsurer also said it will invest $20 million in an emerging markets-focused climate finance fund managed by BlackRock Inc. […]

October 21, 2021 Read More →

Puerto Rico authority plans request for 750 megawatts of renewables

Energy Storage News: Puerto Rico Electric Power Authority (PREPA) has sought approval for the launch of its next Request for Proposals (RfP) for renewable energy and energy storage resources.  It’s the second tranche of RfPs that PREPA intends to issue this year, after Tranche 1 was issued in February, seeking 1GW of renewables capacity and […]

October 21, 2021 Read More →

New York City pension funds pledge net-zero investments by 2040

Bloomberg ($): New York City’s retirement funds pledged to reach net-zero greenhouse gas emissions across its investment portfolios by 2040, becoming one of the first cities to do so. The plans call for doubling investments in renewable energy, energy efficiency and other climate-related solutions to more than $8 billion by 2025, according to a statement […]

October 21, 2021 Read More →

Investor coalition with $60 trillion urges utilities to speed net-zero pace

Reuters: A coalition of investors with more than $60 trillion in assets under management is preparing to call on electric utility companies globally to move up their timeline by as much as 15 years to bring their net greenhouse gas emissions to zero. Utilities account for about 40% of emissions worldwide, more than any other […]

October 21, 2021 Read More →