Our new report: 'Unburnable #Carbon - 10 Years On' finds global stock markets 🏦 are financing energy companies which are sitting on 3x more #coal, #oil & #gas reserves than can be burned without breaking the 1.5°C Paris climate target carbontracker.org/reports/uburna… #CarbonBubble 
🧵Despite growing urgency to tackle #ClimateChange, 'Unburnable #Carbon' reveals “embedded #emissions” in the #FossilFuel🛢️reserves of companies listed on stock exchanges – the CO2 released if they’re extracted & burned – has grown by nearly 40% since 2012 carbontracker.org/reports/uburna…
@CarolineLucas @EdwardJDavey @Ed_Miliband @MichaelEMann @CFigueres @AnnPettifor @billmckibben @martinwolf_ @AlokSharma_RDG The report warns that 90% of all known #FossilFuel🛢️reserves & resources held by companies must stay in the ground as 'unburnable #carbon' to limit global warming to 1.5°C🌡️🛑carbontracker.org/reports/uburna… #KeepItInTheGround
If energy companies are allowed to extract & burn🔥 more than 40% of known #FossilFuel🛢reserves, the world will over-shoot 2°C🌡️warming, with devastating consequences for life on earth 🌍 carbontracker.org/reports/uburna… #ParisAgreement #ClimateCrisis🚨
'Unburnable #Carbon' find that New York 🇺🇸 is the financial centre with the greatest embedded #emissions from freely tradable shares, with 160 GtCO2 listed between the New York Stock Exchange & the NASDAQ carbontracker.org/reports/uburna…
After NYC, Sydney 🇦🇺 is the financial sector least aligned with Paris. If #oil & #gas co's pursue ‘biz as usual’ they'd spend $50bn to 2030, but just 30% is compatible with 1.5°C & a large % of potential future spend is incompatible w even a 2.7°C scenario au.news.yahoo.com/investor-cauti…
Toronto 🇨🇦 has the 4th-largest embedded #emissions from companies whose shares trade feely (behind NYC, Moscow & Shanghai). If #oil & #gas🛢️co's pursue ‘business as usual’ they'd spend $140bn in the decade to 2030, but only 40% is compatible with 1.5°C carbontracker.org/reports/uburna…
Behind New York 🇺🇸, Moscow's 🇷🇺 financial markets have the 2nd largest potential #oil & #gas🛢️capex from 2021 to 2030, closely followed by London 🇬🇧, Toronto 🇨🇦 & Paris 🇫🇷 carbontracker.org/reports/uburna… #CarbonBubble #ClimateCrisis
"If 🌍 governments are serious about #ClimateChange, they must walk the talk by ensuring the activities of domestic stock exchanges & the financial centres around them are consistent with national climate goals & #NetZero commitments… " carbontracker.org/reports/uburna… #COP27
“... or we will lose any chance of meeting the Paris target. This is especially important now as #FossilFuel prices & related company stocks soar” 📈 said report co-author Thom Allen. (2/2) carbontracker.org/reports/uburna… #CarbonBubble
Author @MikeCoffin: “#FossilFuel🛢️companies are reliant on equity & debt markets for the financing of capital-intensive projects, both to raise capital to finance new investments but also to maintain existing production facilities & drill new wells" (1/2) carbontracker.org/reports/uburna…
“... as such, financial institutions that continue to enable such [#FossilFuel🛢️] activities beyond climate limits, cannot themselves be viewed as Paris-aligned, & are also themselves increasingly exposed to transition risk” carbontracker.org/reports/uburna… (2/2) #ClimateRisk
'#UnburnableCarbon' shows that over $1 trillion of #oil & #gas🛢️assets risk becoming #StrandedAssets if #FossilFuel companies pursue business as usual – including $600bn held by publicly listed companies! carbontracker.org/reports/uburna… #CarbonBubble
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