ACCR

ACCR is a non-profit organisation that supports investors globally to take effective action to mitigate the portfolio and systemic risks of climate change.

[ACCR @AustCCR]

While the RCP8.5 scenario has been retired, high warming scenarios could still occur. The lowest risk and cheapest option for the world is to decarbonise at pace, and limit the extent and time we spend above 1.5°C. https://t.co/0S2IwJlQuq

[ACCR @AustCCR]

Oil prices haven't spiked yet. Global inventories have offered a supply buffer, the world's top crude importer, China, is staying away from spot purchases, and last but not least, demand destruction is accelerating amid the high prices. https://t.co/9DzFbfjUmS

[ACCR @AustCCR]

BP has agreed to sell 5% of its stake in the Browse LNG project in Western Australia to South Korea's GS Energy. The sale leaves ‌BP with a 39.33% stake in the Woodside-led which is expected to cost A$48.7 billion ($34.96 billion). https://t.co/pX3HlayydO

[ACCR @AustCCR]

Coal was not beaten by a single technology. It was beaten by a sequence of technologies that forecasters failed to anticipate. Based on economics, coal is now a stone-cold loser. https://t.co/L0EUZdRGXv

[ACCR @AustCCR]

It now appears gas exporters who profited handsomely from exorbitant prices have inadvertently encouraged households to take control of their own power.
That has contributed to last week's announcement of a 10% drop in some benchmark electricity prices. https://t.co/WQu5QHKDKO

[ACCR @AustCCR]

The real story is that Glass Lewis provided cover for what was already happening - a shareholder base that had been split apart by BP's own strategic chaos. It gave institutional investors an excuse to vote with their growing frustration. https://t.co/Hv4RRUfFtl

[ACCR @AustCCR]

We welcome Nippon Steel’s ongoing commitment to providing information relating to its decarbonisation progress through its GX webinars, and in particular, the new disclosures it has provided relating to its investment framework and technology pathways. https://t.co/bw8kxGSK87

[ACCR @AustCCR]

LNG costs will need to decline further to incentivize more consumption. For supply, diversification away from Hormuz will be key; in demand, the diversification will be away from LNG itself. Buyers have options: solar, with the help of batteries, and coal. https://t.co/UhtgCqo4a8

[ACCR @AustCCR]

“Taking a step back, weakness in China’s crude imports could delay the crunch point for the global oil market,” Hamad Hussain, climate and commodities economist at Capital Economics, said in a note on Friday. https://t.co/5RfR6KiSqM

[ACCR @AustCCR]

“He did not explain how the potential conflict was managed & ignored the core part of the question about who recused themselves from the decision to appoint Cutifani,” he said, adding the quality of the board was important for Woodside as it had “chronically underperformed” peers

[ACCR @AustCCR]

“The selection of the next Woodside Energy chairman risks becoming complicated by concerns about the lack of Australian representation on the board and disquiet about the process that led to the appointment of a high-profile contender for the role” https://t.co/csaZgZdtDj

[ACCR @AustCCR]

Richard Goyder has signalled that he will step down as Chair at the next AGM. Mark Cutifani, is regarded as the prime candidate to replace him.
Alex Hillman said Mr Goyder’s response to his AGM question on the selection process “exacerbates rather than satisfies our concerns”.

[ACCR @AustCCR]

In the next five years, the Earth is overwhelmingly likely to surge again and again past the international climate threshold set as safe and shatter its hottest-year record along the way, according to new United Nations climate projections. https://t.co/P8HhwXRwH5

[ACCR @AustCCR]

Shell has filed a writ against Woodside Energy and Paladin Resources demanding more than $83 million after being hit with a clean-up bill for the Northern Endeavour by the federal government. https://t.co/yhxqr9LC2d

[ACCR @AustCCR]

BHP's justification for not adopting electric trucks is that the technology is not advanced enough, but this is not true, as there are already many battery-powered trucks in operation around the world, and electrification is moving quickly. https://t.co/TYPhliuI9o

[ACCR @AustCCR]

Nick Mazan, oil and gas strategy lead at ACCR, said that BP “needs to reflect on how its chair search process... could have done better to prevent this situation. Shareholders will rightly be asking questions about the board’s capability”. https://t.co/ZbWZXWEVA7

[ACCR @AustCCR]

"Manifold’s departure will boost O’Neill’s power in the company, but may also leave her exposed as the sole person responsible in investors’ eyes for quickly delivering a turnaround." https://t.co/xwliSPfRlJ

[ACCR @AustCCR]

AustralianSuper’s mining guru says the superannuation fund has encouraged Glencore to pursue an ASX listing, and still rates Whitehaven Coal as an attractive pick despite its share price surge. https://t.co/XQNrE0uE1O

[ACCR @AustCCR]

Will oil demand growth recover from these oil and gas wars or will it kick the energy transition into overdrive and will oil demand growth is a thing of the past? https://t.co/GUrNJf5BoT

[ACCR @AustCCR]

Dr Robert Glasser's report, 'Lethal humidity and the systemic risks of climate change', warns that each new decade in which temperatures rise will expose many tens of millions more people to deadly humid-heat extremes. https://t.co/MOl6otjKAm