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Anthony Hobley Chief Executive Officer Carbon Tracker Initiative

Anthony Hobley Chief Executive Officer Carbon Tracker Initiative. Exposing the reality of Unburnable carbon. Only 20% of proven reserves can be burnt to keep global warming below 2 degrees celsius. 2795 GtCO2 Total proven coal, oil and gas reserves. 745 GtCO2

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Anthony Hobley Chief Executive Officer Carbon Tracker Initiative

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  1. Anthony Hobley Chief Executive Officer Carbon TrackerInitiative

  2. Exposing the reality of Unburnable carbon Only 20% of proven reserves can be burnt to keep global warming below 2 degrees celsius 2795 GtCO2 Total proven coal, oil and gas reserves 745 GtCO2 Proven coal, oil & gas reserves owned by listed companies 565 GtCO2 Remaining budget for 2 degrees (2010 -50)

  3. What our analysis shows: • We cannot burn all the fossil fuel resources creating so called "Unburnable Carbon", neither can we switch off fossil fuel energy overnight, but: • Capital costs of fossil fuel projects is rising while the cost of clean energy is falling; • Many high-cost/high-carbon projects are destroying value today, putting over $1 trillion at risk over the next decade (the “Dirty Trillion?”) • Financial risks rise dramatically, to over $20 trillion by 2050, in a world responding to climate change. • This is potentially wasted capital deployed because the fossil fuel risk premium is not transparent; • This tilts the investment playing field against clean energy; • Therefore, Governments, regulators and the private sector need a much clearer understanding of the financial and climate risks at stake here; • Including the costs to their economies and businesses of increasingly expensive fossil fuels under a business as usual approach. • Talking points & research are to be found at  • www.carbontraker.com

  4. Anthony Hobley Chief Executive Officer ahobley@carbontracker.org

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