The G7 recently committed to decarbonise the economy by 2100. Now, a group of leading climate scientists and economists has been formed to examine investments in fossil fuel industries. The Oxford Martin Safe Carbon Investment Initiative aims to provide a robust, evidence-based approach to the divestment question.
Work will begin soon to ask what, if any, are the realistic alternatives to divestment? What would a safe fossil fuel investment look like in a world in transition to net zero carbon emissions? What does a company that remains engaged in fossil fuel extraction need to do to reassure its investors and customers that it is acting responsibly, and to ensure that its activities are not committing future taxpayers or shareholders to expensive climate adaptation, mitigation or remediation measures?
The programme will be launched at ‘Our Common Future Under Climate Change’ in Paris on 7 July. Some of those involved came to the SMC to explain the thinking behind safe carbon investment.
Prof. Myles Allen, Co-Director of the Oxford Martin Safe Carbon Investment Initiative and Professor of Geosystem Science at the University of Oxford
Prof. Corinne Le Quéré, Professor of Climate Change Science and Policy at the University of East Anglia and Director of the Tyndall Centre for Climate Change Research
Prof. Cameron Hepburn, Co-Director of the Oxford Martin Safe Carbon Investment Initiative and Professor of Environmental Economics at the University of Oxford