Carbon Tracker Initiative

This award recognises an organisation that has made climate risk measurable in financial terms. In 2025, its report “Fading Fortunes” warned that new oil and gas projects threaten to erode provincial revenues even under moderate price scenarios, estimating that the energy transition could eliminate more than 80% of expected upstream income for Canadian provinces in the 2030s.

Another analysis on decommissioning liabilities revealed that major fossil fuel companies disclose only 19‑45% of the information investors need to assess asset retirement obligations, exposing a systemic transparency gap. Beyond individual publications, Carbon Tracker directly engaged with global investment consultants, co‑convened a PRI roundtable on climate scenario modelling, and developed science‑based damage functions with Exeter University showing GDP losses of 20‑25% under high warming scenarios. For translating climate physics into the language of balance sheets and investor stress tests, this organisation has made decarbonisation a verifiable financial necessity. For that pivotal contribution to aligning capital markets with climate reality, Carbon Tracker Initiative receives this recognition.