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Trista Rose and Press Release
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 […]
IEEFA
Associated Press: The Ford Foundation, one of the largest private foundations in the United States, announced Monday that it will divest millions from fossil fuels, following similar investment decisions made by other sizable foundations in recent years. For years, climate activists have put pressure on endowed institutions, like Ford, to end their investments in companies […]
Dennis Wamsted, Seth Feaster, Tom Sanzillo and Press Release
Declining demand for coal plants, credit agency downgrades and investor scrutiny create challenges for Lightstone investment prospects
October 14, 2021 (IEEFA) — The major pension and retirement funds that own a piece of the General J.M. Gavin (Gavin) coal plant in Ohio face increasing challenges from their investment. Most investors do not know that they own a share of the plant and some are just beginning to realize it, according to an […]
Tim Buckley
Global finance is aligning with industry leaders
It appears that Reliance Industries’ Mukesh Ambani and Fortescue Metals Group’s Andrew Forrest have drunk the same cool-aid as the Chair of the biggest asset manager in the world, BlackRock’s founder Larry Fink. The richest man in India set his firm towards a net-zero emissions by 2035 pledge in June 2021 while Australia’s Andrew Forest […]
Tim Buckley
As a former Citi executive, I know the bank could change course and lead again
In September 2007, with a mortgage crisis clearly on the horizon, Citigroup’s CEO Charles Prince III gathered with his top executives to understand whether the bank—then the nation’s largest—faced any risk. The consensus was no. How wrong they were. In a year’s time, Lehman Brothers crashed, triggering a global financial collapse. Citigroup lost 90% of […]
IEEFA
Energy Voice: Aberdeen University, considered one of the UK’s top academic institutions for petroleum studies, has decided to divest from fossil fuels. The University’s Court approved the policy on Wednesday to exclude fossil fuel extractor companies from its £52.7m investment portfolio by 2025. The move, coming just weeks away from the UN COP26 climate conference […]
IEEFA
Pensions & Investments: Caisse de dépôt et placement du Québec, Montreal, announced a new climate strategy that includes completing a divestment from oil production holdings by the end of 2022. The C$390 billion ($315.2 billion) pension fund also announced in a news release Tuesday it plans to increase the value of its low-carbon portfolio to […]
Johanna Bowyer and Guest Contributor: Tristan Edis
There are many options to manage the energy transition that don’t involve capacity payments
Uncertainty in the national electricity market is driving investment risk, due to high levels of uncertainty around coal exits, short term market contracting, early mover disadvantage in power technologies subject to deflation, and unpredictable government intervention, among other things. The Energy Security Board’s capacity mechanism has been proposed as a solution to these challenges. It […]
Tom Sanzillo
Harvard divestment raises issue of climate, ethics and investments by higher ed and philanthropies
The recent decision by Harvard to divest from fossil fuels is part of a trend and also a precedent-setting event. Earlier this year, BlackRock informed the New York City pension funds that the divestment movement is no longer limited to small investment funds. Its report found that an increasing number of large institutional investors are […]
Tim Buckley
Already the world’s leading investor in zero emissions industries of the future, now China pledges it will end international funding of coal
President Xi Jinping of China has made a profoundly important announcement overnight at the United Nations General Assembly in a speech titled: ‘Building confidence and jointly overcoming difficulties to build a better world’. “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power […]
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders
With export markets' changing expectations, investors and industry beware31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]