Blueprint Series

April 2015

Carbon Tracker is developing a transition road map for the fossil fuel industry (the “Blueprint Series”). This will outline the steps we believe that the industry and individual companies will need to take to adapt their business practices and models to move down a trajectory consistent with an energy transition that delivers a climate secure global energy system.

The Fossil Fuel Transition Blueprint

Carbon Bubble

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    Shell climate disclosures: Déjà vu?

    May 2016

    Oil companies have been providing climate disclosures for decades now – but are they getting any better? New research finds Shell knew the extent of the carbon bubble as far back as 1998.

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    Carbon Bubble

    November 2011

    In March 2012, Carbon Tracker’s seminal report ‘Unburnable Carbon’ was Highly Commended in the City of London’s Sustainability Awards. Click below to review the report.

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Capex Tracker

February 2015

  The 2015 Oil Spending Review is in Full Swing With oil prices collapsing to between $50/$60 a barrel (at the time of writing), their lowest for six years, oil companies around the world have been slashing development budgets on projects that now don’t make economic sense. Daily there are reports of deferrals and cancellations. The industry is in some turmoil, as a result of the volatility in oil prices. In particular, companies have had to revise how much they're...

Capex Tracker. A lead indicator of global warming

Demand Destruction

October 2015

This report is designed to challenge the conventional thinking and linear models which dominate the current scenarios for energy futures. The greatest risks and opportunities will arise from more dramatic shifts rather than business as usual or incremental change. There is increasing investor interest in what analysis is useful to test business strategies and demonstrate resilience in a low carbon future. This follows on from engagement and resolutions at the oil majors.

Lost in Transition: How the energy sector is missing potential demand destruction

Credit Ratings

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    Bonds 2014

    July 2014

    This latest piece of research from Standard & Poors’ coal analysts in collaboration with CTI explores for the first time the implications of reduced demand for the debt ratings of the coal industry.

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    Bonds 2013

    March 2013

    What A Carbon-Constrained Future Could Mean For Oil Companies' Creditworthiness Report, March 2013 Carbon Tracker and Standard & Poors have been working together on the implications of carbon...

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Regulatory Analysis

Stranded Assets

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    Carbon Asset Risk: from rhetoric to action

    October 2015

    This paper, first presented at the 1st Global Stranded Assets Conference, hosted by the Smith School in Oxford September 2015, looks at developments over the past two years around the concepts of...

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    Wasted capital and Stranded Assets

    April 2013

    This new research from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment at LSE calls for regulators, governments and investors to re-evaluate energy...

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Capex Analysis

Company/Projects Analysis

  • shell arctic

    Shell climate disclosures: Déjà vu?

    May 2016

    Oil companies have been providing climate disclosures for decades now – but are they getting any better? New research finds Shell knew the extent of the carbon bubble as far back as 1998.

    Read More
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    Coal: Caught in the EU Utility Death Spiral

    June 2015

    In this report we analyse the EU’s largest 5 power generators why they lost so much value and the viability of new coal in Europe based on our assessment of future market conditions.

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    Responding to IHS / IPIECA: Focus on Oil & Gas Capex

    January 2015

    During 2014, following in the footsteps of Shell and ExxonMobil, oil and gas industry association IPIECA published a “fact sheet” called “Exploring the concept of ‘unburnable carbon” in...

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    Oil Sands: Fact sheets

    November 2014

    Ninety percent of future oil sands projects at risk from eroding oil price. Investors in Canadian oil sands are at a heightened risk of wasting $271 billion of funding on projects in the next...

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    Oil & Gas Majors: Fact sheets

    August 2014

    With this report, Carbon Tracker demonstrates the mismatch between continuing growth in oil demand and reducing carbon emissions to limit global warming.

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    Responding to Shell: An Analytical perspective

    July 2014

    The Carbon Tracker Initiative (CTI) and Energy Transition Advisors (ETA) produced a thorough response to Shell’s stranded assets statement published on May 16th.

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    Response to Exxon: An Analytical perspective

    March 2014

    In March 2014 ExxonMobil published a document entitled, “Energy and Carbon – Managing the Risks” in response to a shareholder proposal by Arjuna Capital and As You Sow.

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    Keystone XL

    March 2014

    Carbon Tracker respond to the US Department of State's Final Supplemental Environmental Impact Statement (FSEIS) with our new research report KXL: The 'significance' trap.

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Regional Reports

Accountability

October 2013

This new research from Carbon Tracker and the Association of Chartered Certified Accountants reveals that current financial reporting standards, stock market listing requirements, industry reporting frameworks and non-financial guidelines do not alert investors to the risks of reserves associated with climate change

Carbon Avoidance