Power companies should divert investment to green technologies or risk a “debt trap” and declines in credit ratings, concludes a study by Oxford University and University College Cork.
Companies in the EU and the US are unaware of potential risks to demand, supply chains and reputation arising from the shift to a greener economy, the European Investment Bank in a new report.
Thousands of new power plants, pipelines, LNG terminals and extraction fields reveal investment strategies laden with climate and financial risk.
Governments must begin winding down fossil fuel production immediately if global warming is to remain below 1.5°C. Any delay is entirely political, suggests a report commissioned by global initiative the Fossil Fuel Non-Proliferation Treaty.
The Three Seas Initiative between countries in the east of Europe remains, with US support, focused on gas. Switching its attention to renewables would avoid stranded assets and boost technological, industrial and economic transformation, writes Julian Popov from the European Climate Foundation.
The UK, Norway, the US and Canada like to present themselves as climate leaders, but their strategies around oil and gas tell a different story.
For too long the US has supported gas projects in Europe that offer alternatives to Russian gas imports.