The world’s top 20 oil and gas projects could waste $91 billion in investors’ dollars over the next decade if high-cost extraction projects fail to match fossil fuel demand with global targets for reducing carbon pollution, according to the latest report from the UK-based Carbon Tracker Initiative. “Since an earlier CTI report in May this year, institutional investors have been asking for more details of the economic justification for projects that require high oil prices,” GLOBE-Net reports. Now, CTI says fossil fuel companies “need to reduce exposure to exploration projects that must earn the highest prices for their oil, and this is the principle that should determine investment decisions, rather than the simple pursuit of production volume.” (h/t to Jenelle Ross/LinkedIn for pointing us to this story)
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