Finally, it appears the industry is hearing!
But even now, there is no North American involvement in Oil & Gas Climate Initiative. This sectoral leadership group is definitely welcome –it has implied its support for keeping warming to 2C – but it is conservative in its assumptions and especially in its commitments. (For analysis which is more fit for purpose in terms of systemic risk management, see The Heat Is On). So yes, some progress but much stronger hearing aids still needed!
And who or what will make these #bigmutuals (mainly all US headquartered) care? The investment industry in the US is at the bottom of the league in terms of awareness of climate risk according to a poll by the CFA Institute.
We think the best answer is #ForcefulStewardship. But if you don’t agree and ideally have a better idea, please tell us.