'Paris Maligned' warns investors that in 2023, #BigOil companies will make decisions on investing more than $35bn to 2030 in 15 major O&G projects that are incompatible with 1.7°C. Two-thirds ($23bn) relates to 7 projects that aren't compatible with 2.5°C🌡️carbontracker.org/reports/paris-…
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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
🧵In 2011, our 1st report: 'Unburnable Carbon: Are the World’s Financial Markets Carrying a #CarbonBubble?' found ~80% of declared reserves of listed #FossilFuel companies were at risk of stranding, if the world stayed below 2˚C temp rise... carbontracker.org/reports/carbon…
Despite the global distribution of #oil, #gas & #coal mining production, financing of #FossilFuel companies is concentrated in a small number of financial centres & stock exchanges in likes of New York, London, Moscow carbontracker.org/reports/carbon…
Between June 2021 & January 2022, the price of “nature based” #offsets — such as those from tree-planting schemes 🌳🌳 — increased more than 3-fold from around $4.65 per tonne of #carbon to around $14.40, according to S&P Global Platts ft.com/content/29565f…#CCUS#NetZero
Interest in unregulated #offsets market, has grown with proliferation of #NetZero emission pledges since the #COP26 summit + rising pressure on curbing global warming. Expectations are the voluntary carbon market will grow this yr into a space worth $ Bn's ft.com/content/29565f…
Though #oil companies claim to use only “high-quality” #offsets as part of their #NetZero goals, monitoring millions of acres of forest is hugely challenging. Experience of recognised programs like UN’s REDD initiative = mixed at best carbontracker.org/oil-companies-…
New report: ‘The Sky’s The Limit’ finds huge falls in the cost of #solar & #wind power have unlocked an energy reserve that can meet world demand 100x over! Most is already economic compared with #FossilFuelscarbontracker.org/reports/the-sk…
At current growth rates, #renewables will push #FossilFuels out of the electricity sector by 2035, & 2050 could see a world powered entirely by electricity. Author @KingsmillBond says: “we're entering a new era, comparable to the industrial revolution” carbontracker.org/reports/the-sk…
@BillGates Gates: “#Divestment, to date, probably has reduced about zero tonnes of emissions. It’s not like you’ve capital-starved [the] people making steel and gasoline” ft.com/content/21009e…
@BillGates As @350 note: arguments against fossil fuel #divestment miss a larger point. The idea is not to starve companies of capital but to remove their “social licence to operate” & make it easier for Govts to act on climate issues by breaking #fossilfuel companies’ hold on politicians.