Capital investment will never see a return if world’s governments fulfil climate change pledge, says Carbon Tracker group
Over $1tn is being gambled on high-cost oil projects that will never see a return if the world’s governments fulfil their pledge to tackle climate change, according to a new report.
The Carbon Tracker Initiative (CTI) research found that $1.1tn of capital expenditure is expected in the next decade in expensive oil sands, deepwater and Arctic projects but that this investment will be lost if policymakers agree to slash carbon emissions.