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Resources

13DEC
2016
Investors' Guide: IGCC: Investor expectations for oil and gas companies - Transition to a lower carbon future
Category: Energy, Latest News

Investor Expectations for Oil and Gas Companies: Transition to a Lower Carbon Future updates a previous guide (Investor Expectations – Oil and Gas Company Strategy) first published in December 2014 that has formed the basis of effective investor engagement over the past two years with the boards and management of oil and gas companies. The new guide is intended to support further constructive engagement with the sector following the Paris Climate Agreement. It therefore focuses on how companies in this sector are governing and managing the transition risks and opportunities associated with a climate trajectory of no more than 2°C of global warming and are developing the business strategy required to adapt through the transition to a sustainable low carbon energy system.

The guide groups investor expectations in five areas of concern:

  •  Governance – are board and management processes well enough defined to ensure adequate oversight of climate-related risk and effective planning for a transition consistent with 2°C and efforts to pursue 1.5°C?

  •  Strategy -  is the management of climate-related risks and opportunities integrated into business strategy well enough to ensure business models will be robust, responsive and resilient in the face of a range of energy transition scenarios.

  •  Implementation – is scenario analysis and ‘stress testing’ well enough embedded into key business planning processes and investment decisions?

  •  Transparency & disclosure – does the company disclose its operational emissions in the annual report and/or on the corporate website. How good is the company’s view of, and response to, the material climate related risks and opportunities outlined in the guide?

  •  Public policy – does the company engage with public policy makers and other stakeholders to support development of cost-effective policy measures to mitigate climate-related risks and low carbon investments?  Is there broad oversight and transparency regards the company’s public position, lobbying activity and political spending on climate-related regulatory issues (including carbon/methane emissions, energy and transport)?  

The guide was developed by the Institutional Investors Group on Climate Change with support from other investor networks in North America (Ceres’ INCR), Asia (AIGCC) and Australasia (IGCC) in the Global Investor Coalition, an umbrella for more than 250 institutional investors representing assets worth over USD24 tn. It is one of several produced to support investor engagement with key sectors to curb carbon asset and climate risk including  mining,  utilities and automotive companies. It is intended to be used in tandem with Institutional Investors’ Expectations of Corporate Climate Risk Management.

 

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24NOV
2015
Report: World Energy Council: World energy perspective: The road to resilience: Managing and financing extreme weather risks
Category: Energy, Latest News

New approaches are required for the management and financing of energy infrastructures as companies and governments seek to meet the challenges of increased extreme weather risks. New thinking is needed says a recent report from the World Energy Council, ‘The road to resilience – managing and financing extreme weather risks’.  

The report highlights the need for a move from ‘Fail-Safe’ systems that only look at single assets to ‘Safe-Fail’ systems which take a systemic overview of the energy value chain and a more strategic approach to identifying vulnerabilities.

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13JAN
2015
Report: CEG: Financing for Clean, Resilient Power Solutions
Category: Energy, Latest News

“Financing for Clean, Resilient Power Solutions,” provides an overview of several clean energy finance strategies for low-cost, long-term financing of resilient, clean-energy technologies. In the paper, CEG explores how conventional financing options — such as bond financing, credit enhancement and public and private ownership structures — can be applied to resilient power projects. 

 

 

 

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15JUL
2014
Report: Cambridge University: 'Climate Change: implications for the energy sector'
Category: Energy, Latest News

The briefing, “Climate Change: implications for the energy sector”, was released on the 18th June at the Asian Clean Energy Forum in Manila. It brings into sharp focus the energy-related findings of the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report (AR5) for policymakers and business leaders in the energy sector. The report identifies the need to incorporate climate change mitigation and adaptation measures into energy policymaking, infrastructure planning, and investment decisions.

Key findings from the briefing include:

  • Energy demand is increasing globally, causing an increase in greenhouse gas emissions from the energy sector. The trend is set to continue, driven primarily by economic growth and rising population.

  • Climate change presents increasing challenges for energy production and transmission as a result of temperature increase, extreme weather events, and changing precipitation patterns.

  • Significant cuts in GHG emissions from energy can be achieved through a variety of measures, including cutting emissions from fossil fuel extraction and conversion, switching to lower-carbon fuels, improving energy efficiency, increasing use of renewables and nuclear, introduction of carbon capture and storage (CCS), and reducing final energy demand.

  • Strong global political action on climate change would have major implications for the energy sector.

  • Incentivising investment in low-carbon technologies will be a key challenge for governments and regulators to achieve carbon reduction targets

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14MAY
2014
Report: IPIECA: Addressing adaptation in the oil and gas industry
Category: Energy, Latest News, Oil, Gas & Extractives

The global oil and gas industry association for environmental and social issues (IPIECA) has released a report on climate change adaptation for the oil and gas sector. The report comes as oil and gas companies increasingly recognise the need to integrate climate adaptation planning as part of their risk management strategies.The 13 page briefing report is intended for anyone in the oil and gas industry with an interest in adaptation planning. It examines oil and gas industry awareness of climate change-related risks, and identifies appropriate responses and ways in which these responses are being integrated into broad risk management frameworks. Structured to provide an overview of the adaptation planning process, the document includes:

  • examples of climate risks identified by the oil and gas industry;
  • an outline of risk evaluation processes related to specific potential impacts, and
  • in-use examples of risk adaptation and management.

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08MAY
2014
Report: US Department of Energy: U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather
Category: Energy, Government & Policy, Latest News, Oil, Gas & Extractives

The U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather report, which builds on President Obama’s Climate Action Plan, notes that annual temperatures across the United States have increased by about 1.5°F over the last century. In fact, 2012 was both the warmest year on record in the contiguous United States and saw the hottest month since the country started keeping records in 1895.  The implications for America’s energy infrastructure include:

·    Increased risk of temporary partial or full shutdowns at thermoelectric (coal, natural gas, and nuclear) power plants because of decreased water availability for cooling and higher ambient and air water temperatures.  Thermoelectric power plants require water cooling in order to operate.  A study of coal plants, for example, found that roughly 60 percent of the current fleet is located in areas of water stress.

·    Reduced power generation from hydroelectric power plants in some regions and seasons due to drought and declining snowpack. For example, earlier spring snowmelts could decrease summer water availability leading to potential hydropower shortages when energy demand for cooling is greatest.

·    Risks to energy infrastructure located along the coast from sea level rise, increasing intensity of storms, and higher storm surge and flooding -- potentially disrupting oil and gas production, refining, and distribution, as well as electricity generation and distribution. 

·    Increasing risks of physical damage to power lines, transformers and electricity distribution systems from hurricanes, storms and wildfires that are growing more intense and more frequent.

·    Increased risks of disruption and delay to fuel transport by rail and barge during more frequent periods of drought and flooding that affect water levels in rivers and ports.

·    Higher air conditioning costs and risks of blackouts and brownouts in some regions if the capacity of existing power plants does not keep pace with the growth in peak electricity demand due to increasing temperatures and heat waves.  An Argonne National Laboratory study found that higher peak electricity demand as a result of climate change related temperature increases will require an additional 34 GW of new power generation capacity in the western United States alone by 2050, costing consumers $45 billion.  This is roughly equivalent to more than 100 new power plants, and doesn’t include new power plants that will be needed to accommodate growth in population or other factors.

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17APR
2014
Report: Swiss Re: Sigma 2013: Natural catastrophes and man-made disasters 2013
Category: Agribusiness & Forestry, Defence & Security, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

 Key findings of the report include:  

  - Total economic losses from natural catastrophes and man-made disasters were USD 140 billion in 2013

  - Global insured losses were around USD 45 billion in 2013, with large contributions from flooding and hail events

  - Around 26 000 lives were lost in natural catastrophes and man-made disasters in 2013

  - A special chapter on climate change in the sigma says rising global temperatures are expected to lead to shifts in the frequency, intensity and duration of extreme weather events

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28MAR
2014
Report: CDP / Acclimatise: Climate Change Resilience in Europe: A snapshot of the private sector
Category: Agribusiness & Forestry, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The CDP report “Climate Change Resilience in Europe” provides actionable insight for businesses and serves as an invaluable tool to facilitate informed decision making by business leaders, governments and policy makers across Europe.

The report’s key findings include:

- Businesses identify two climate risks by climate change for every one opportunity (responding companies identified 780 risks compared to 379 opportunities).

- The most anticipated risk companies cite is a reduction or disruption in production capacity (32% of all reported risks).

- Two in five companies anticipate increased demand for existing goods and services (43% of all reported opportunities). One in five expect new products or services to be profitable in a changing climate (18% of all reported opportunities).

- Risks are perceived differently across sectors, with financial companies accounting for nearly one third of all critical risks mentioned in the survey (33%), followed by consumer discretionary companies (25%).

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22JAN
2014
Report: Global Risks Report 2014: The World Economic Forum, Davos.
Category: Agribusiness & Forestry, Defence & Security, Energy, Features, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The World Economic Forum Global Risks 2014 report; a compendium of the most significant systemic risks to global prosperity according to 700 experts. Climate change is identified as one of the top 5 risks over the next 10 years.

The report assesses 31 risks that are global in nature and have the potential to have major negative impact across entire countries and industries if they take place. The risks are grouped under five classifications – economic, environmental, geopolitical, societal and technological – and measured in terms of their likelihood and potential impact.

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18DEC
2013
Report: EASAC: "Trends in extreme weather events in Europe: implications for national and European Union adaptation strategies"
Category: Agribusiness & Forestry, Defence & Security, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

A new report from the European Academies Science Advisory Council (EASAC), warns that climate change will bring more severe weather to Europe’s door, and that urgent action is required if member states are to be adequately prepared. Noting that ‘heat waves, floods and storms do not respect national frontiers’, the report calls for policy makers to act now at both national and EU levels.

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29NOV
2013
Report: Meteos: "Systems not Silos: Investor Perspectives on the Energy System"
Category: Energy, Financial Services, Latest News

Major investors have expressed concern about the potential climate risks to investments in energy systems according to a new report by the think tank Meteos. In the report, ‘Systems not Silos: Investor Perspectives on the Energy System’ asset managers raise questions about the risk calculations that are currently used, suggesting that they undervalue how climate change could affect energy-related stocks in their portfolios.

The study is a result of an on-going investor-led dialogue about long-term value drivers in the energy sector, known as ‘EnergyFutures’. EnergyFutures looks at the role of societal and environmental considerations in shaping the ability of energy-related companies to create value. EnergyFutures is convened by Meteos, and participants include financial analysts, fund managers and senior company executives.

The overarching recommendation of the report is that investors and other stakeholders should engage in a systematic analysis of the energy system “in order to understand different sources of risk embedded in their portfolios”.

The report also stresses the need for investors to:

1. Bridge internal silos across geographic regions, asset classes and investment styles in order to improve understanding of energy risks in supposedly uncorrelated asset classes.

2. Expand risk horizons in acknowledgement of the fact that today’s investable timeframes may prevent understanding of long-term risk.

3. Build price and demand scenarios to enhance understanding of systemic energy risk in their portfolios.

4. Commission more climate-related research in order to enhance understanding of risk.

5. Require greater transparency and disclosure from investee companies.

6. Improve understanding of public policy and regulation, and their investment implications.

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28OCT
2013
Report: Siemens: A Toolkit for Resilient Cities: Executive Summary
Category: Energy, Features, Government & Policy, Latest News, Transport & Communications, Water & Sanitation

Damage caused by extreme weather evetents are increasing around the globe. In 2012, the costs of such damages totalled approximately US$160 billion worldwide. To show how cities can better protect themselves against natural disasters like hurricane Sandy, Siemens prepared a study on resilient urban infrastructure. Results show that technology is a key component of resilient and efficient infrastructure protection.

 

 

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28OCT
2013
Report: Siemens: A Toolkit for Resilient Cities
Category: Energy, Features, Government & Policy, Latest News, Transport & Communications, Water & Sanitation

It is becoming increasingly clear that cities are important arenas for climate change adaptation. Building urban resilience to climate impacts will be vital to ensure that ever-growing populations and businesses and infrastructure investments can recover from climate-driven shocks. Damage caused by extreme weather evetents are increasing around the globe. In 2012, the costs of such damages totalled approximately US$160 billion worldwide. To show how cities can better protect themselves against natural disasters like hurricane Sandy, Siemens prepared a study on resilient urban infrastructure. Results show that technology is a key component of resilient and efficient infrastructure protection.

 

 

 

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09AUG
2013
Report: Australian Business Roundtable for Disaster Resilience: "Building our Nation’s Resilience to Natural Disasters"
Category: Agribusiness & Forestry, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The Australian Business Roundtable for Disaster Resilience and Safer Communities today released a White Paper that calls for a more comprehensive approach to managing natural disasters. The call comes as climate-driven extreme weather events are rising in Australasia, costing lives, causing significant damage to property and infrastructure, and necessitating large quantities of public finances to support relief efforts. The ‘Building our Nation’s Resilience to Natural Disasters’ report forecasts that cost of natural disasters in Australia to rise from AUS$ 6.3 billion a year currently to around AUS$ 23 billion a year in 2050 as population density increases and the severity and frequency of storms, floods, cyclones and bushfires grow.

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07AUG
2013
Guide: UK Environment Agency / IEMA: "Climate Change Adaptation: Building the Business Case"
Category: Agribusiness & Forestry, Defence & Security, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The UK Environment Agency (EA) and the Institute of Environmental Management and Assessment (IEMA) have come together to launch best-practice guidance that will help environment and sustainability professionals to develop a thorough business case and secure senior management buy-in for addressing climate risks. 'Climate Change Adaptation: Building the Business Case’ is a 14-page guide that provides insightful learning points from practice, drawing on the experience of over 300 IEMA members.

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24JUL
2013
Report: WMO: The Global Climate 2001-2010, A decade of Climate Extremes
Category: Agribusiness & Forestry, Defence & Security, Features, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

A new report by the World Meteorological Organization (WMO) has shown that the world experienced unprecedented climatic extremes in the ten years to 2010. The decade wasn’t just the warmest since modern measurements began over 150 years ago but also saw a high number of extreme weather events- Hurricane Katrina in the US,  droughts in the Amazon Basin, Australia and East Africa and floods in Pakistan just to name a few. The Global Climate 2001-2010, A decade of Climate Extremes study analysed global and regional temperature and precipitation data as well as extreme events to compile the report. 

 

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23JUL
2013
Report: UNDP: 'GEO-5 for Business: Impacts of a Changing Environment on the Corporate Sector'
Category: Agribusiness & Forestry, Defence & Security, Features, Energy, Financial Services, Health & Pharmaceuticals, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The success of private-sector companies will increasingly depend on their ability to adapt to climate change. This is the conclusion of a new report from the United Nations Environment Programme (UNDP), which found that extreme weather events, water scarcity and regulations that will be put in place to control emissions, are all climate-related events that will materially affect businesses’ ability to operate unless early action is taken to adapt. The report, GEO-5 for Business: Impacts of a Changing Environment on the Corporate Sector, says the private sector’s operating costs, markets for products and availability of raw materials will be affected by climate change. The report highlights the risks of climate driven events to a wide range of business sectors, from finance and tourism, to healthcare and transport.

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18JUL
2013
Report: C2ES: Weathering the Storm: Building Business Resilience to Climate Change
Category: Agribusiness & Forestry, Defence & Security, Features, Energy, Financial Services, Health & Pharmaceuticals, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

A new report has found that the vast majority of major firms see extreme weather and climate change impacts as a current or near-term business risk, but lack the data and tools needed to assess and manage these risks. The report, published this month by the Center for Climate and Energy Solutions (C2ES) – formerly the Pew Center on Climate Change – highlights the extent of the adaptation challenge for the business community.

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11JUL
2013
Report: US DOE: "U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather"
Category: Energy, Latest News

The U.S. Department of Energy (DOE) has released a comprehensive report as part of  efforts to support national adaptation planning and advance the goal of promoting energy security.

It examines:

  1) current and potential future impacts of climate trends on the U.S. energy sector

  2) activities already underway to address these challenges,

  3) potential opportunities to enhance energy technologies that are more climate-resilient, as well as information,  policies and strategies to improve their deployment.  

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07JUL
2013
Report: Defra: UK National Adaptation Plan
Category: Agribusiness & Forestry, Defence & Security, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, International Development, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

The UK faces numerous and serious threats from climate change. But by addressing those risks early, the worst outcomes can be avoided - and there may even be benefits to gain. Those are the conclusions from the newly released National Adaptation Programme, published last week by the Department for Environment, Food and Rural Affairs (Defra).

The new report outlines the steps government, businesses and communities are already taking to address the most severe and urgent threats of climate change, as identified by Defra last year in its Climate Change Risk Assessment.

 

 

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25APR
2013
Report: European Commission/Acclimatise 'Guidelines for project managers: Making vulnerable investment climate resilient'
Category: Energy, Financial Services, Government & Policy, Latest News, Manufacturing, Transport & Communications, Water & Sanitation

The cost, size and long-lifespans of major infrastructure developments make them especially vulnerable to the impacts of climate change. Damage from extreme weather events such as floods, high winds and extreme heat can cost large sums to repair and even more in economic losses as key infrastructure assets are forced to close. Developed by Acclimatise for the European Comission (EC), a new set of guidelines aim to integrate climate resilience into the standard project lifecycle appraisal commonly practiced by developers.

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09APR
2013
Policy brief: Grantham Research Institute/LSE : "An Independent National Adaptation Plan for England"
Category: Energy, Financial Services, Government & Policy, Latest News, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Transport & Communications, Water & Sanitation

This brief, written by researchers from the Grantham Research Institute on Climate Change and the Environment at London School of Economics and Political Science, and the Centre for Climate Change Economics and Policy at the University of Leeds, comes ahead of the full National Adaptation Plan (NAP) report that is due to be published this summer by Defra. It calls on the UK to take early, decisive action to adapt to the impacts of climate change. It offers a glimpse of what is to come, and stresses the importance of the government and the private sector working together to ensure that vital infrastructure and services are prepared for climate impacts.

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18FEB
2013
Report: CDKN: “Harnessing geothermal energy: The case of Kenya”
Category: Latest News, Energy, Government & Policy, International Development

In the latest of the Climate and Development Knowledge Network’s (CDKN) series of ‘Inside Stories’ on climate compatible development, Pius Kollikho and Benoît Rivard explore how Kenya has taken action to harness its geothermal energy potential. The six page knowledge brief, explores some of the challenges that Kenya has faced in utilising geothermal energy as part of its wider energy sector reforms, and holds important lessons for other countries that are looking to do the same. The study shows that adapting to climate change will require carefully planning energy systems that are resilient to climate impacts and variability.

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29JAN
2013
Report: CDP: "Reducing risk and driving business value"
Category: Agribusiness & Forestry, Latest News, Energy, Financial Services, Government & Policy, Health & Pharmaceuticals, Manufacturing, Oil, Gas & Extractives, Retail & Supply Chains, Tourism, Transport & Communications, Water & Sanitation

In 2012, the Carbon Disclosure Project (CDP) conducted its fifth annual information request for member companies and their suppliers. Companies that responded indicated that they are more aware than ever of the considerable risks that climate change poses to their global supply chains.

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24JAN
2013
Presentation: Dr Richenda Connell, Acclimatise: Building climate resilience in the oil and gas industry
Category: Latest News, Energy, Oil, Gas & Extractives

 This presentation was given by Dr Richenda Connell, Acclimatise CTO and Co-Founder to the Addressing Adaptation in the Oil and Gas Industry conference hosted by IPIECA on October 9th 2012 at the Shell Centre in London. The conference drew representatives from some of the largest global oil and gas companies, and included talks from companies such as Shell, BP and ConocoPhillips.

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