Stranded assets: Report warns US oil majors are lagging European rivals in clean energy transition

clock
Demand for fossil fuels will plummet if the world makes progress towards its net-zero goals
Image:

Demand for fossil fuels will plummet if the world makes progress towards its net-zero goals

Latest study from Carbon Tracker shows that while US firms are particularly exposed, all oil and gas firms would face massive stranded asset risk in the event of a successful energy transition

US companies are lagging way behind their European rivals in adapting their business models to a low-carbon future which would see demand for fossil fuels drastically reduced, a new study released today...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Access our Intelligence Reports and exclusive data-rich studies on business-critical aspects of the green economy (BG Advanced members only)
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Energy

Credit: iStock

Water companies ordered to shave £150m off customer bills after missing environmental targets

England and Wales water regulator Ofwat hands out financial penalties to 11 firms for missing supply, biodiversity, pollution and sewer flooding goals

Cecilia Keating
clock 03 October 2022 • 3 min read
Credit: iStock

Climate risk reporting rules comes into force for large UK pension schemes

Pensions regulator issues guidance, as TCFD reporting becomes mandatory for UK pensions schemes worth over £1bn

Cecilia Keating, Stephanie Baxter
clock 03 October 2022 • 3 min read
Drax Power Plant in North Yorkshire | Credit: iStock

Drax accused of using wood from carbon-rich forest in Canada to supply UK power plant

BBC Panorama investigation claims energy company's activities in Canada breach its sustainable sourcing commitments

Cecilia Keating
clock 03 October 2022 • 4 min read