Wednesday, June 21, 2017

Ranking Oil Companies’ Climate Risk:  Exxon Is Near the Top

Carbon Tracker analyzed projected capital expenditures that would no longer pay off for the top oil and gas companies if the world keeps its 2-degree warming limit.


Worldwide Oil and Gas Production Projections (Credit: insideclimatenews.org) Click to Enlarge.
ExxonMobil has more to lose than any other big oil and gas company as the world transitions to an economy with dramatically lower carbon dioxide emissions, a new ranking by the Carbon Tracker Initiative has found.

Up to half of the company's projected capital expenditures through the year 2025 would go to projects that wouldn't pay off if emissions are held low enough to keep global warming below 2 degrees Celsius, the goal of the Paris Agreement on climate change, the report says.

Carbon Tracker's work on stranded assets—investments that would be abandoned if the world reduces emissions of carbon dioxide from the use of fossil fuels—has been increasingly influential among shareholders who are demanding that energy companies fully disclose these risks.  This is the first time the organization has ranked oil and gas companies by their potentially stranded assets.

Exxon is hardly alone, but it stands out in the crowd.

Read more at Ranking Oil Companies’ Climate Risk:  Exxon Is Near the Top

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