$1T of Potential Losses in the Pipeline for Oil and Gas Financiers

By [email protected] Justin Guay is director for global climate strategy at the Sunrise Project.


The only climate trend more powerful for global financial institutions than the drive to achieve net-zero emissions by 2050 is the momentum to exit oil and gas. According to the Institute for Energy Economics and Financial Analysis (IEEFA), more than 50 globally significant financial institutions have put in place an oil and gas exit policy. For those who are counting, there are now more new policies being announced seeking to limit exposure to the oil and gas industry than those targeted at the moribund coal industry. In fact, in

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