1. Anthony Hobley
Chief Executive Officer
Helsinki, 20th May 2014

2. Financial experts making carbon investment risk
visible today in the capital market.
Anthony Hobley - Chief Executive Officer
Mark Campanale - Founder and Executive Director
Jon Grayson - Chief Operating Officer
James Leaton - Research Director
Luke Sussams - Senior Researcher
Reid Capalino - Senior Researcher
John Wunderlin - Staff Attorney US
Margherita Gagliardi - Communications Officer
Tracy Trainor - Office Manager
Jeremy Leggett - Chair, Board of Directors
Mark Campanale - Deputy Chairman
Anthony Hobley - Executive Director
Alice Chapple - Non Executive Director
Cary Krosinsky - Non Executive Director
Who we are

3. Our funders

4. Our formula
...by translating climate science and policy
into the language of finance.
Our work is aimed to align climate risk
with capital market risk...

5. What we do
Our research has created a new debate around
climate change and investment.

6. Our stakeholders

7. Our research path

8. We are not about divestment
…an easy and powerful bit
of arithmetical analysis
first published by financial analysts
in the U.K. has been
making the rounds…
(it) up-ends most of the
conventional political thinking
about climate change.
And it allows us to understand
our precarious position with….
simple numbers”.
Bill McKibben, Co-founder of
350.org

9. We are about responsible
risk management
This report shows very clearly
the gross inconsistency between
current valuations of fossil fuel
assets and the path governments
have committed to take in order
to manage the huge risks
of climate change.
Prof. Lord Stern of Brentford
Chair, Grantham Research Institute
on Climate Change and the
Environment, LSE

12. Carbon budget deficit for listed companies
Current listed reserves (762
GtCO2)
far exceed a quarter of
the carbon budgets
but could double (1541 GtCO2)
If we break the 2 C budget we
very quickly hit 2.5 C and 3 C

13. Current reserves on stock exchanges (2013)

14. Potential reserves on stock exchanges (2013)

15. Rebalancing is needed between flows.

16. Carbon Supply Cost Curves. First Report on Oil (2014)

17. Carbon supply and oil production by
global producer category (2014-2050)

18. Stress-testing the logic of rising
upstream oil capital expenditure

19. Carbon Supply Cost Curves: Oil

20. Carbon and oil production
by producer by BEOP: 2014-2050

21. Private conventional: Total carbon & oil
production (MBPD average) by BEOP 2014-2050

22. Private unconventional: Total carbon & oil
production (MBPD average) by BEOP 2014-2050

23. Conventional: CAPEX $ by BEOP (2014 to 2050)

24. Unconventional: CAPEX $ by BEOP (2014 to 2050)

25. Key locations by CAPEX (2014 to 2025)
and carbon production (2014 to 2050)

26. Map of oil provinces with high cost
potential production

27. Mark Fulton, ex DB Head of
Research, presents the key findings

28. Recommendations for Investors

31. Anthony Hobley
Chief Executive Officer
ahobley@carbontracker.org