Mind the gap: the $1.6 trillion energy transition risk
Fossil fuel companies risk wasting $1.6 trillion of expenditure by 2025 if they base their business on emissions policies already announced by governments instead of international climate goals, Carbon Tracker warns in a report, that models the IEA’s 1.75C scenario for the first time. Mind the gap: the $1.6 trillion energy transition risk is the first report to analyse the upstream financial implications for investors of the yawning gap between the Paris Agreement, which pledges to keep climate change well below 2C above pre-industrial times and aims for 1.5C, and government policies, which are consistent with 2.7C of warming.