Library | ESG issues
Fossil Fuel Industry
The fossil fuel industry includes coal, crude oil, and natural gas, which are carbon-intensive energy sources formed from ancient organic material. Their extraction and use are major contributors to greenhouse gas emissions, environmental destruction, and climate change. In the finance industry, fossil fuels present both risks and opportunities, as investors assess regulatory challenges, transition risks, stranded asset potential, and shifting market demand while also exploring opportunities in cleaner energy alternatives and low-carbon transition strategies.
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Global electricity review 2026
Ember’s 2026 Global Electricity Review reveals that solar power met 75% of global demand growth in 2025, halting fossil generation rise. Renewables reached 33.8% of the mix, overtaking coal for the first time. The report highlights falling battery costs and the decoupling of demand growth from fossil fuel consumption.
Renewable energy discourses of fossil fuel companies: Obstruction and delay of climate action
This research analyses annual reports from Shell, BP, TotalEnergies, and ExxonMobil between 2016 and 2022. It identifies how companies use mixed-sentiment messaging and doublespeak to link renewable energy with fossil fuels. These discursive strategies obstruct climate action and delay the necessary phase-out of fossil fuels.
The dirty ten: Banks in Australia still backing fossil fuels
This research identifies ten retail banks in Australia that provided AU$74.4 billion to fossil fuel companies in 2023. While 85 banks avoid such financing, major institutions dominate the market. The report highlights a disconnect between consumer desire for a clean energy transition and continued bank support for fossil fuels.
Crude awakening: How Australia ranks on fuel security
Australia is highly vulnerable to global oil shocks as the world's largest seaborne diesel importer. This report details how the 2026 energy crisis cost motorists $5 billion. It advocates for rapid electrification of transport and mining to replace volatile imported fuels with secure, domestic renewable energy.
Gas-fired electricity generation is a bridge, not a destination
This research report by Nexa Advisory examines gas-fired electricity as a transitional fuel in Australia. Modelling indicates that infrastructure delays could increase reliance on expensive gas, raising wholesale costs by up to $115.7 billion. It recommends accelerating transmission build-out and clarifying gas’s back-up role to protect consumers.
Spillover effects: The fossil fuel–debt trap in the Global South
This research explores the "fossil fuel–debt trap" in the Global South, analysing how sovereign debt and fossil fuel dependence reinforce each other across Colombia, Egypt, Guyana, Jordan, and Sri Lanka. It identifies structural barriers to energy transitions and proposes reforms, including debt cancellation and grant-based climate finance.
Dutch financing of US LNG exports to the Netherlands: A case study for the Dutch Fair Finance Guide
Dutch banks provided USD 58.8 billion for US LNG exports between 2017 and 2025, with ING Group accounting for 63 per cent. Institutional investors held USD 9.9 billion by April 2026. The research highlights significant misalignment between financial flows and global climate targets despite some divestment trends.
Commodity Markets Outlook: October 2026
This World Bank report examines the historic energy supply shocks caused by the Middle East conflict and hostilities in Ukraine. Overall commodity prices are projected to rise by 23 per cent in 2026, with energy prices surging 32 per cent and metals reaching record highs. Risks remain tilted towards higher prices.
Spillover effects: the fossil fuel–debt trap in the Global South
This research report explores the structural link between sovereign debt and fossil fuel dependence in the Global South. Through five country case studies, it demonstrates how debt obligations reinforce carbon lock-in. It calls for systemic reform, including debt cancellation and grant-based climate finance to enable a just energy transition.
Russia’s coal industry after 2022: The hidden costs of Putinism’s extractive model
Following 2022 sanctions, Russia’s coal industry lost its sustainable model, incurring over USD 32 billion in cumulative losses. Redirecting exports to Asia proved unprofitable due to high logistics costs and hidden subsidies. Environmental degradation persists, while official methane reporting remains unreliable, requiring independent verification through satellite monitoring.
Open Electricity
Open Electricity is an open-access platform providing real-time and historical data on Australia’s electricity grid. Developed by The Superpower Institute, it tracks renewable generation, fossil fuel usage, and market milestones to support transparency in Australia's energy transition.
Spillover: Shell and TotalEnergies' expansive roles in the voluntary carbon market
This report analyses the extensive involvement of Shell and TotalEnergies in the voluntary carbon market. It highlights how fossil fuel majors use carbon credits to obscure a lack of absolute emissions reductions, while exercising structural influence over credit supply, project development, and market governance.
The petrochemical blind spot: Plastics, fertilisers and bank profits
This research report explores the petrochemical industry’s environmental and human rights impacts, documenting how European banks provide billions in financing to major chemical firms. It highlights the sector’s role in driving fossil fuel demand and recommends that financial institutions implement robust plastics policies and cease financing industry expansions.
End-use Prices Data Explorer
The End-use Prices Data Explorer, provided by the International Energy Agency, tracks global energy prices across sectors like industry and transport. It helps finance professionals assess the impact of energy costs, taxes, and subsidies on market competitiveness and investment risks.
Gas reserve mechanisms and flexibility options: Enhancing gas supply security in a changing global market
This report examines mechanisms to enhance gas supply security, including physical reserves, commercial flexibility, and policy tools. It analyzes the transition to an interconnected, geopolitically complex market, advocating for international cooperation, strategic buffers, and innovative contracting to mitigate future supply disruptions and extreme price volatility.
Pakistan’s next power chapter: From solar success to system reform
Pakistan faces a critical turning point in its energy transition following a massive distributed solar boom. This report explores strategic pathways for system reform, addressing circular debt, transmission constraints, and a young coal fleet. It recommends a hybrid model modernising the national grid while integrating decentralised solar and storage.
