In response to requests from concerned shareholders and a range of financial institutions, companies have, in varying degrees, finally begun to assess and report on their Carbon Asset Risk. The next step in the Carbon Risk arena is to take the 2°C degree scenario to its logical and urgent next step: Transition Planning. As energy companies begin to disclose information about the risks and opportunities of aligning with a low-carbon future, they have yet to sufficiently outline tangible steps they will take to ensure a sustainable pathway forward for their businesses and the planet.
Recent reports produced by oil majors like ExxonMobil have largely disappointed stakeholders by failing to take their share of responsibility for limiting global warming to under 2°C. At the same time, the Administration has begun to systematically roll back greenhouse gas emission reduction agreements and standards – from stepping away from the Paris Agreement, to fighting the Clean Power Plan, to substantially weakening CAFE standards, among many others. The time is ripe to discuss the necessary transition away from business models that rely on polluting the commons toward a clean, sustainable energy future. Investors understand the risks and opportunities facing these companies; they must now urgently pressure companies to provide evidence of meaningful change.
Join As You Sow, the nation’s leading nonprofit shareholder advocacy organization, for a night of insightful dialogue followed by music and refreshments. This is an official affiliate event of the Global Climate Action Summit.
Schedule (tentative, see website for updates):
6:30-7:15: Panel 1: Transition Planning in the Oil & Gas Sector
7:20-8:00: Panel 2: Transition Planning in the Face of an Attack on CAFE Standards
8:00: Music/Dance & Networking – Join us next-door at ‘Our Village’ inside Covo with Hip Hop Caucus and If Not Us Then Who