Throughout 2024, our Net Zero News readers engaged deeply with topics at the intersection of political shifts, market realities, and climate imperatives. The top stories paint a vivid picture of the challenges and contradictions shaping the energy transition. Notably, our December 13 edition covering the EY survey on ESG skepticism became our most-read article since launching Net Zero News in early 2022.
The diversity of the top stories – from pension fund climate vulnerabilities to technological breakthroughs in oil extraction, from contrasting U.S.-Europe investment approaches to China’s energy transition potential – reflects how investors are adapting to a complex political and regulatory landscape while maintaining focus on material climate risks and opportunities.
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Here’s a breakdown of the top 10 most read Net Zero News articles of this year:
1. Investors shun long-term ESG rewards in quest for short-term gains, says EY survey
Investment Reality Check – EY survey reveals 85% of investors view greenwashing as a major concern, with only 17% monitoring climate policies. Firms prioritize tangible climate risks over sustainability claims amid growing skepticism. Envirotech Magazine story here (December 13 Edition)
2. IIGCC finalises update to key net zero guidance for investors
Net Zero Framework Evolution – IIGCC updates Net Zero Investment Framework with new ‘dashboard style’ approach, moving beyond carbon metrics. Framework emphasizes sovereign bonds and warns against overreliance on financed emissions. IPE story here (June 28 Edition)
3. Pension fund returns could suffer with climate change impact
Climate Risk Warning – Ortec Finance study warns North American pension funds face potential 50% return drops by 2040 under high-warming scenarios, while Swiss and Dutch funds show better climate resilience. IPE story here (December 6 Edition)
4. Breakthrough Drilling Technology Could Unlock 5 Billion Barrels of Oil
Oil Innovation in Focus – Chevron’s ultra-high-pressure drilling breakthrough could access 5 billion barrels of oil globally, including 2 billion in Gulf of Mexico, raising stranded asset concerns. Oil Price story here (August 16 Edition)
5. Climate change: UN report says planet to warm by 3.1° C without greater action
Global Warming Alert – UN warns of 3.1°C warming by 2100 under current policies. Global emissions increased 1.3% in 2023, prompting urgent calls for stronger climate action. Reuters story here (October 25 Edition)
6. U.S.-listed international oil and gas companies benefit from “friendlier” investor base
Market Valuation Gap – Former Shell CEO identifies deeper capital pools and supportive investors in U.S. markets as key factors driving valuation gap between European and North American oil firms. World Oil story here (April 13 Edition)
7. Timing peak oil: are we heading for a delayed or timely transition?
Transition Timeline Challenge – Asset owners struggle with peak oil demand timing amid limited company data. AP3 pension fund highlights challenges in assessing climate risks beyond sector-level information. Net Zero Investor story here (April 5 Edition)
8. Exxon sees 2050 oil use at current level, despite net zero goal
Oil Demand Forecast – ExxonMobil projects oil demand exceeding 100 million barrels daily through 2050, contradicting IEA’s Net Zero scenario calling for 75% reduction. BNN Bloomberg story here (August 30 Edition)
9. Renewables getting less than half the money needed to hit climate goals
Investment Shortfall – REN21 report shows renewable energy receiving $623 billion investment, far below $1.3 trillion needed for climate goals, despite record 473 GW capacity addition. Recharge story here (April 5 Edition)
10. China coal hub could lead its energy transition, researchers say
Energy Transition Potential – Inner Mongolia could pioneer China’s energy transition by supplying coastal cities with renewable power using existing infrastructure, though coal remains in planned mega-projects. Mining.com story here (October 4 Edition)
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