PWYP Australia

View Original

Out of The Shadows

This report provides an overview and analysis of Australian Stock Exchange (ASX) listed extractive companies’ global fossil fuel footprint. Australian companies' ongoing investments in new fossil fuels globally is incompatible with the Australian governments legally binding commitment to reach net zero emissions by 2050 in line with the Paris Agreement. The report makes a series of recommendations on increasing transparency and reporting on reserves, embedded emissions, price sensitivity, break even prices closure liabilities and transition plans. It call for an end in government funding fossil fuels and a halt to any new approvals for fossil fuel projects.