The Securities and Exchange Commission recently announced rules that – if enacted – would require disclosure of: Climate-related risks to the business; Direct and indirect emissions from fossil fuel use
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The SEC on 21st March proposed a set of rules that will move US companies toward a financial reckoning with their use of fossil fuels and with the growing climate crisis.
The new Green EU Deal, announced in July, has as one of its aims, setting a high new price for carbon emissions. If it succeeds in raising the price, not even as far as it aims, it’ll make it a lot easier for clean technologies to prosper.
the announcement of a European Green Deal. The coverage mentioned pronouncements of accelerated targets for reduced carbon output, and so on. The news cycle moved on.
Recent news shows some governments cutting back on subsidies for oil and gas companies. But these are small moves, given the vast scale of the subsidies showered on fossil fuel companies, and they’re not yet cemented in place.
Change happens gradually, and then suddenly. This week, the endgame for oil companies became a lot closer and a lot more evident, suddenly, discontinuously, a jump.
The fossil fuel executives’ answers mostly spoke to keeping their businesses vibrant in the context of an energy transition away from oil and gas. They described capital spending peaks on oil and gas production. They didn’t push back on the need to transition beyond fossil fuels.
How to value a climate-normalizing technology, or enterprise?