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Some Observations on Global Divestment Day 2015

The Debate Global Divestment Day is being marked around the world on February 13 and 14. Not unexpectedly, a vigorous debate around the merits of divestment has emerged. We believe that this debate is a positive sign, for it demonstrates the wide range of individuals and organizations who are engaged in the conversation. In any debate, however, it's important to stick to relevant facts. Throughout the course of February, some flawed but...

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Announcing The Carbon Underground 200TM 2015 Edition

We’re pleased to announce that today, to mark Global Divestment Day, we released an updated version of The Carbon Underground 200, our trademark list of top 200 public coal, oil, and gas companies. The list is publicly available on our website, on its own and as part of our updated report, The Carbon Underground 2015: The World’s Top 200 Public Fossil Fuel Companies Ranked by the Carbon Content of their Fossil Fuel Reserves. Our research...

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A Flawed Argument Against Fossil Fuel Divestment

Research Brief Series An often-stated misconception about fossil fuel divestment is that divestment must entail a sacrifice of returns and an increase in risk. This belief is not supported under examination of recent experience or the specifics of the stranded asset risk argument. The belief about the negative impact of divestment on risk and return is not a fact. It isn't even a generally shared belief. This belief does not objectively...

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Thoughts on the 2014 Performance of the FFIUS

Research Brief Series In the year just ended, the Fossil Free Indexes US (FFIUS) outperformed the S&P 500 by about 1.5%. This is a strikingly large number, when you consider that less than 10% of the market capitalization of the S&P 500 is in companies that are part of The Carbon Underground 200 (CU200) and, therefore, excluded from the FFIUS. This outperformance illustrates the value of an investment strategy that is carbon-aware....

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The Carbon Underground Tar Sands 20, or The Case of the Misplaced Emissions

Mysterious Missing CO2 My recent blog, Tale of Two Fossils: Why Separate Coal from Oil and Gas, explained the rationale for separating FFI’s Carbon Underground 200 rankings into the top 100 public oil and gas companies and the top 100 public coal companies based on the emissions potential of their unburned proven reserves. In this post I'll look at another group that warrants a separate category. The first pre-release calculation of the...

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