Carbon Tracker report highlights oil projects that are neither economically nor environmentally justifiable
Commenting on the publication of Carbon Tracker’s latest report on oil investment, Carbon Supply Cost Curves. Evaluating financial risk to oil capital expenditure, published today Nick Molho, Head of Climate and Energy Policy at WWF-UK, said: “Since it was set up, Carbon Tracker has reset the framing of the debate around climate change by showing how it is an investment challenge as much as an environmental and policy challenge.
“Today’s report report shows that a significant amount of investment being made in new oil projects today are neither economically nor environmentally justifiable. It also highlights the fact that many oil companies are gambling not just with investors’ money but also on a world that will experience dangerous levels of climate change.
“The work of Carbon Tracker, the growing global divestment movement around fossil fuels and the increasing willingness of investors to challenge companies on this issue shows that the game is up. We cannot bet on a future that nobody wants.”
