Al Gore, former US Vice President and founder of the Climate Reality Project, will give the welcome keynote speech at Carbon Tracker’s official COP21 event on Thursday December 3rd.
The event will include a discussion of Carbon Tracker’s new report that warns that fossil fuel companies risk wasting up to $2.2 trillion in the next decade by pursing business as usual strategies. It finds that no new coal mines will be needed, oil demand will peak around 2020 and growth in gas will disappoint industry expectations, in a 2C world.
The $2 trillion stranded assets danger zone: How fossil fuel firms risk destroying investor returns maps out coal, oil and gas supply that makes neither financial nor climate sense in a 2C world and the countries and companies with the greatest financial exposure.
The UK-based financial think tank calls on investors to challenge fossil fuel companies to apply a 2C stress test to their business models in the face of climate change commitments by more than 160 countries and rapid advances in clean technologies which are drastically reducing demand for fossil fuels and driving a transition to a clean energy system.
The event, co-organised with Ceres, Institutional Investors Group on Climate Change (IIGCC) and the Climate Markets and Investment Association (CMIA) will bring together a high-level panel of financial analysts, investors and energy companies to discuss how climate change impacts and affects their investment panels and business models. It will also examine how investors are already incorporating long-term targets in order to facilitate an orderly transition to meet the UN 2C target.
Full details of the event and speakers are available here:
http://www.carbontracker.org/news/investing-for-the-long-term-addressing-carbon-asset-risk/
