Initiative

arbon Tracker

Climate Change.

Mitigating the risks,adapting to the impacts.

Initiative

arbon Tracker

Responsive attempt to reduce vulnerability of biological systems

Climate Change

Actions to limit CC impactE.g. Reduction GHG emissionsthrough CCS, reforestation

Not an either/or it is both mitigation & adaptation.

Mitigation Adaptation

Initiative

arbon Tracker

Three Scenarios

But where are we now?

6°

£ 2°

£2° £

GoldilocksScenario

NightmareScenario

Last MinuteScenario

1 2 3

2° £

1

Initiative

arbon Tracker

Goldilocks Scenario

Policy & regulatory signal in time to allow orderly transition and a managed deflation of the “carbon bubble”.

2

Initiative

arbon Tracker

Nightmare Scenario

Global community fails to send policy & regulatory signal catastrophic warming of 3 to 6 degrees.

6°

£

3

Initiative

arbon Tracker

Last Minute Scenario

Action delayed until events drive political shift, resulting action swift & severe.carbon bubble bursts massive financial shock.

2°

£

Initiative

arbon Tracker

InternationalOverview

Copenhagen disaster

UNFCCC 2005

Kyoto Protocol

2009

Road to Paris?

2015

Initiative

arbon Tracker

European Overview

40%

EU 2020 package2007

EUETSEU ETS RenewablesDirective

EnergyEfficiency

Key building blocks:

EU 2030 package

20% 20% 20%

27% cont.improv.

2014

UK Overview

Initiative

arbon Tracker

budget setting

But we are only small...what about China, US, India?

UK – Climate Change Act2008

UK – Committee on Climate Change

Broadening the context...

Initiative

arbon Tracker

This is not about the environment its about the whole economy.

A matter of communications...

Initiative

arbon Tracker

Carbon Tracker is translating climate change into the language of finance.

climate changepolicy makers

$

investmentcommunity

Financial experts making carbon investment risk visible in the capital markets today.

Carbon Tracker Formula

Initiative

arbon Tracker

carbon budgetlisted fossilfuels reserves

unburnable carbonstranded assets

potentialcurrent

Listed reservesare 1/4 of totalknown reserves

Current listed reserves (762 GtCO2)far exceed a quarter of the carbon budgetsbut could double (1541 GtCO2)

762

1541

Carbon Tracker Research

Initiative

arbon Tracker

2011 2013 2013 2013

‘This report shows very clearly the gross inconsistency between current valuations of fossil fuel assets and the path governments have committed to take in order to manage the huge risks of climate change’

Professor Lord Stern of Brentford, Chair, Grantham Research Institute, LSE

Thank you.Anthony HobleyCEO, Carbon Tracker Initiative

ahobley@carbontracker.org

Initiative

arbon Tracker