Document summary
This report examines climate risk disclosures by listed fossil fuel companies. Conducted in partnership with CDP, Ceres and the Climate Disclosure Standards Board (CDSB), this research reveals the alarmingly low level of integration of climate risk considerations in the fossil fuel industry today, despite evidence these companies recognise these risks as material. The report shows the fossil fuel sector does not disclose how it proposes to deal with the transition to a low carbon economy, or how business models will be affected by a climate goal of 2 degrees warming. Finally, it recommends that financial regulators need to increase scrutiny of the extent to which listed fossil fuel companies are integrating measures to build resilience to low demand and price future. The data released in questionnaire responses to investors through the Ceres/CDP questionnaires show an industry unprepared to respond in depth to how the clean energy transition will affect business viability.