Carbon Tracker Initiative

advocacy networks.

Their grantees included Carbon Tracker and the European Climate Foundation.

If this was a one-off thing, then fine.

But Quadrature is far from the only one, as you're seeing on screen.

I'm George Dyer, and I'm so excited about this one.

Today, we're joined by Mark Campanale, who's the founder of Carbon Tracker.

I've known Mark for a long time, followed his work.

It's been really influential.

He's one of the leading thinkers in articulating the risks for investors around climate change and the energy transition, and always just has amazing statistics and analysis to bring to these conversations he's coined or at least popularized many of the key concepts around these topics including the carbon budget the idea of unburnable carbon the carbon bubble and stranded assets we talk about a bit about all this and what he's seeing on how the energy transition is playing out in the 15 years or so since he started carbon tracker his team sees oil and gas companies in this phase of a silent retreat which they say is a rational strategic response to what these companies are seeing in terms of the long-term trend around demand reduction for their products that's now in motion due to electrification of everything, electric vehicles, renewable energy, and generally the shift from sort of a molecules-based energy system to one based on electrons.

We also talk about the disconnect between economists' reports on the financial impacts of climate change that investment consultants and others often rely on, and how they differ from those of climate scientists, and how institutional investors and their consultants are often kind of stuck in this old model of thinking about risk and fiduciary duty when it comes to climate and the energy transition.

So it's a great transition.

Yeah.

It's a huge risk.

There's actually a good report out today by Carbon Tracker talking about the massive risk of stranded assets for Canada.

And certain provinces, obviously, are extremely vulnerable.

Alberta, Saskatchewan, Newfoundland.

This connects to the line Zeke drew at the end of our first segment about whether a decline in emissions is truly structural.

So what would that kind of shift look like? Kingsmill Bond of Carbon Tracker, who we heard last time, shared his view on that in episode one fifty-two from August twenty twenty-one.

Earlier in that conversation, he and Chris had been talking about how emerging economies might leapfrog the old energy system.

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