The scale of ‘listed’ unburnable carbon revealed in this report is astonishing – between 60 and 80% of current fossil fuel reserves listed on global markets cannot be burned if we are to limit the rise in global temperature to 2 degrees.
This report makes it clear that ‘business-as-usual’ is not a viable option for the fossil fuel industry in the long term. Management should already be looking to new business models that reduce the risk of stranded assets destroying shareholder value, In future, capital allocation should emphasise shareholder returns rather than investing for growth.