Carbon ‘Blueprint’ Shows Risks From Not Preparing for Cheap Fuel
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Oil and natural gas companies that fail to consider the risks of a warmer planet and cheaper fossil fuels are jeopardizing shareholder value, according to a report by Carbon Tracker Initiative and Energy Transition Advisors.
“Senior management is overly focused on demand and price scenarios that assume business as usual,” Paul Spedding, an adviser to London-based Carbon Tracker and co-author of its Blueprint report, said in a statement Thursday. “There may be a risk assessment ‘gap’ between a management’s view of the future and that resulting from action on climate change, technological advances and changing economic assumptions.”