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As a group, over the course of the past decade (2012 to 2021) these 20 companies slashed their net GHG emissions (Scope 1 and 2) by 43%, from 862 million tonnes to 489 million tonnes. To boot, Enel managed to deflate its carbon bubble almost exclusively by retiring high-carbon assets. dollars) through 2030. Retirements (89%).
However, subsequent Conservative prime ministers – Liz Truss and Rishi Sunak – “didn’t understand the urgency”, according to the Rt Hon John Selwyn Gummer, Lord Deben, Conservative Party peer and former chair of the UK’s Committee on Climate Change (CCC) from 2012 to 2023. It’ll be a mess.”
At the COP28 climate summit in early December, the federal government announced new draft regulations that it says would result in a 75% reduction in methane emissions in the oil and gas sector from 2012 levels by 2030 while acknowledging that further work is required to accurately quantify methane emissions.
The submissions argued that current disclosures fail to sufficiently address the impact of extracting and consuming oil, gas or coal resources on the climate and how government policy may change to meet national and international climate goals, which could heighten the risk of strandedassets for investors.
In the whole of 2012, about 130 000 electric cars were sold worldwide. With ICE phase-out plans well under way in the UK and similarly not far off in Europe, investors should also be mindful of strandedasset risk for those companies slow to convert fleets,” says Wiggs. Today, that many are sold in the space of a single week.”.
The courts, investors , banks and insurers are all making this point and this compelling argument is buoyed by increasing examples of strandedassets. A total of 208 educational institutions have divested their assets from fossil fuels. It is fitting that educational institutions are divesting in droves.
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