Governments, industry, and individuals all bear some responsibility for climate change. But major investor-owned fossil fuel companies are substantial contributors to greenhouse gas emissions, and they have known for decades that their products cause global warming. The past year has brought new revelations of fossil fuel producers’ involvement in climate deception and investigations by public authorities, including U.S. state attorneys general and the Philippine Commission on Human Rights.

In this context, and in light of the commitments made by world leaders in Paris to limit warming to well below 2°C above pre-industrial levels and the growing calls by investors, lenders, insurers and other stakeholders for more robust disclosures of climate-related risks, what role should fossil energy companies now play? And what risks and consequences does this evolving role portend for investors in these global companies?

This panel will explore the responsibility of fossil energy companies in a carbon-constrained world, examining the degree to which major investor-owned fossil fuel producers can be motivated to a) align their business models with the targets set in the Paris Agreement, and b) adapt their communications and political activities to climate science and policy proposals to address it. Working principles for engagement between institutional investors and fossil fuel extraction companies will be presented, as will an objective analysis of the extent of these companies’ influence over climate policy. The results of a climate responsibility scorecard, assessing a sample of leading oil, gas and coal companies against specific criteria for a more responsible fossil energy company, will be discussed. Panellists and participants will be asked to consider how these initiatives to hold fossil fuel companies accountable can affect the future supply of fossil fuels.