Pandemic Accelerates Decline And Fall Of Fossil Fuel Producers

Pandemic Accelerates Decline And Fall Of Fossil Fuel Producers

Fossil fuel companies are set to face "terminal decline" because of falling demand and higher investment risks caused by competition from clean technologies and tougher government climate and energy security targets, according to climate finance analysts.. Fossil fuel companies have a combined market capitalisation of $18 trillion, one quarter of the total value of global equity markets, and they account for $8 trillion of corporate bonds, more than half the non-financial corporate bond market.. "We are witnessing the decline and fall of the fossil fuel system," said Kingsmill Bond, Carbon Tracker energy strategist and report author, said.. are still forecasting continued growth in demand for fossil fuels, and the fossil fuel system as a whole has been investing $5 trillion a year on new supply and demand infrastructure, says the report, Decline and Fall: The Size & Vulnerability of the Fossil Fuel System. ". Companies worth $6 trillion are particularly vulnerable because they are operating in sectors expanding the fossil fuel system, from builders of LNG facilities and oil pipelines to makers of conventional car engines and gas turbines, Carbon Tracker says.. Governments are supporting clean technology in order to meet the Paris climate targets and tackle air pollution from