ENERGY TRANSITION
The Energy Transition team’s goal is to persuade financial investors to divert capital out of fossil fuels and into renewable energy finance with the aim to help map and expedite the energy transition.
The team is playing a key role in developing and disseminating the energy transition narrative.
Our report “The Speed of the Energy Transition” was written in collaboration with the World Economic Forum Global Future Council (WEF), BloombergNEF and the Rocky Mountain Institute (RMI). It lays out the implications of a gradual versus a rapid energy transition and identifies the signposts to help understand which path the world is following. WEF’s video on the paper received over a million views and the work was featured, among other places, on the RMI podcast “The Energy Transition Show".
For the second year running, Carbon Tracker participated in the Vatican’s CEO and Investor Roundtable, which brought together the heads of the world’s largest Oil and Gas companies with their shareholders. Mark Campanale, on behalf of Carbon Tracker, provided attendees, which included Shell, Exxon and Chevron, and investors such as Calpers and Blackrock, with our detailed company modelling and participated in the discussions, which included a lengthy Q&A session with Pope Francis. Carbon Tracker signed two key statements with participants, one on carbon pricing and the other on corporate disclosure around climate risk. These meetings received extensive international media coverage. The roundtable was followed up by further company interactions in New York during Climate Week in September, hosted by the Oil & Gas Climate Initiative.
The team also embarked on highlighting the impending Inevitable Policy Response, an initiative launched by the Principles for Responsible Investment, through declining renewable costs and intermittency solutions in the paper “The Trillion Dollar Energy Windfall”. This note received strong media pick-up, including Reuters News Agency, Bloomberg News and GreenBiz.
KEY REPORTS:
KEY EVENTS:
CNS photo/Vatican Media
To help shift financial market thinking our Energy Transition team has presented widely on the narrative of the energy transition to investors, regulators and policymakers. This work has contributed to the fossil sector being de-rated in the period. Some of our more notable presentations included to Capital Group, JP Morgan, RBC, Invesco, Artemis, Guinness, Ruffer, Aberdeen Standard, Carmignac and Smith and Williamson.
Kingsmill Bond, our Energy Strategist, is a member of the World Economic Forum Global Future Council on Energy which is helping to advance and share the thinking in this sector. As well as regularly publishing papers in collaboration with the Council, Kingsmill speaks at their events in front of oil majors such as Saudi Aramco. The partnership greatly increases the potential readership and visibility of Carbon Tracker.
Additionally, the team’s presentation to policymakers in the Irish Government assisted in their decision to pass the legislation on the phasing out of fossil fuel exploration in Irish waters and to nationally divest from fossil fuels, with Ireland becoming the first country worldwide to do so.
In 2019, Kingsmill also joined Rocky Mountains Institute’s Energy Transition Magazine Advisory board and became an advisor to The Financial Times’s Energy Transition Summit in London in 2020.
Pope Francis speaks to executives of leading energy, petroleum and natural gas companies, leaders in investment firms and climate scientists during a meeting at the Vatican June 14, 2019.
"Today's ecological crisis, especially climate change, threatens the very future of the human family, and this is no exaggeration," he told them.