Oil and Gas

Financing fossil fuels risks a repeat of the 2008 crash. Here's why

Smoke rises out of factories in Thailand's Chonburi province, about 90 km (56 miles) southeast of Bangkok February 1, 2007. The Intergovernmental Panel on Climate Change (IPCC) will release a long-awaited report assessing the human link to pollution, global warming and climate change in Paris on Friday. A draft of the report, which draws on research by 2,500 scientists from more than 130 countries, projects a big rise in temperatures this century and warns of more heatwaves, floods, droughts and rising sea levels linked to greenhouses gases released mainly by the use of fossil fuels

Is continued investment in fossil fuels leading us towards another financial as well as ecological catastrophe? Image: REUTERS/Sukree Sukplang - GM1DUNAUBRAA

Jennifer Morgan
State Secretary and Special Envoy for International Climate Action, Federal Foreign Office of Germany
Share:
Our Impact
The Big Picture
Explore and monitor how Oil and Gas is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:

Oil and Gas

Have you read?
Although progress is being made, it is happening far too slowly
Although progress is being made, it is happening far too slowly Image: TPI, Climate Action 100+
Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:
Oil and GasClimate ChangeDavos 2020Financial and Monetary SystemsCorporate Governance
Share:
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

More on Oil and Gas
See all

IEA roadmap outlines immediate steps oil and gas industry must take to cut emissions

Johnny Wood

May 25, 2023

About Us

Events

Media

More from the Forum

Partners & Members

  • Join Us

Language Editions

Privacy Policy & Terms of Service

© 2023 World Economic Forum