Standard & Poor’s has raised concerns about the asset valuations of fossil fuel companies. The assets of coal, oil and gas companies may be overvalued because these companies may not be able to sell their products, said Nathan Fabian, CEO of the Investors Group on Climate Change.
If serious climate change is to be avoided, a large percentage of the fossil fuel reserves will not be available for burning because of their greenhouse gas emissions. This limitation could have a substantial impact on the future valuations of these companies' share prices, Mr Fabian said.
Mr Fabian was a speaker at the Climate Alliance National conference held in Melbourne today.
Mr Tony Kelly, Managing Director of Yarra Valley Water spoke about a number of projects being undertaken that have had a dramatic impact on energy and water usage. YVW has had considerable success at engaging with its customers and suppliers to reduce water consumption and improve the quality of water being discharged into Melbourne's waterways.
Fujitsu has been taking a sustainable approach to business since 1938, Alison Rowe, the group's director of sustainability claimed today. She said the company has had an excellent track record of helping its customers improve the efficiency of their operations and reduce their carbon footprint.
The Gold Standard has emerged as the standard of choice for many of the investors for projects in the voluntary carbon market. The rigor of the standard has resulted in the carbon price achieving a considerable premium over prices for projects that have been implemented to less stringent standards, according to Mr David Shelmerdine, director of the Geneva based Gold standard.
The successful methods employed by Hepburn Wind will be applied to other renewable energy projects around Australia, Simon Holmes a Court said today. A new entity, Embark, helps communities navigate the process of getting the permits and creating the business cases for the construction of medium scale renewable energy projects.
At the conclusion of the conference, the Climate Alliance Leadership Awards were announced. See separate Press Release for details.
Press contact: Mr Hendrik Karsten, Chairman, Climate Alliance Limited on 0420 245 680, for further information.