Nearly half a trillion dollars’ worth of gas projects will be surplus to requirements if the global temperature rise is to be limited to 2C above pre-industrial levels, a new report by a London-based thinktank has found.
The study, released on Wednesday by the Carbon Tracker Initiative, highlights the risk of fossil fuel assets becoming stranded, largely thanks to their carbon output.
The report found that around 41% of capex planned for new gas projects – a figure that amounts to $459 billion – and 25%...
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