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$1.6 Trillion In Fossil Fuel Investments Are At Risk

$1.6 Trillion In Fossil Fuel Investments Are At Risk

The fossil fuel industry is putting $1.6 trillion of investment at risk if the world gets its act together and tries to adhere to the climate change targets as part of the Paris Climate Agreement.

A new study from the Carbon Tracker Initiative predicts that the world will need $4.8 trillion in investment in oil, gas and thermal coal between 2018 and 2025 under a business-as-usual scenario, but considerably less if governments step up policy initiatives to combat greenhouse gas emissions.

If the world sticks to its 2-degree-Celsius target, there would only be a need for $4 trillion in investment through 2025. Moreover, in a more aggressive scenario in which the world keeps warming at a 1.75 degrees C, fossil fuel investment would fall to just $3.3 trillion. All that extra spending by the energy industry would be put at risk.

The upshot is that current levels of fossil fuel investment are completely at odds with what the world needs to stick to its climate targets. The scientific evidence suggests a need to scale back on production and consumption in a big way. But the oil industry sees a steady increase in demand, justifying new investments.

Continued: https://oilprice.com/Energy/Energy-General/16-Trillion-In-Fossil-Fuel-Investments-Are-At-Risk.html