Calls to hike climate policy raise risk for oil firms

Increased climate policy will put more oil and gas assets under threat of stranding

As world leaders and government officials gathered in Madrid for December’s United Nations climate change conference (COP 25), the pre-conference speech by UN secretary-general António Guterres had immediate resonance for oil and gas firms.

“We simply have to stop digging and drilling, and take advantage of the vast possibilities offered by renewable energy and nature-based solutions,” he said. 

Pressure is undoubtedly building on governments to increase action on climate change and much of it