Stranded assets

A new California law directs utilities in the U.S. state to set up 30 pilot projects that will transition households off of the gas system. Experts say it will help speed up the transition and avoid stranded asset risk.

A new report finds that U.S. gas utilities could spend up to $1.4 trillion on gas infrastructure through 2050. It warns that regulators need to manage the transition away from gas to avoid the continued build-up of stranded asset risk.

In its latest report, the IPCC said that greenhouse gas emissions need to halve by the end of the decade to avoid catastrophic warming. That means slashing the production and consumption of fossil fuels.

Two dozen LNG projects are in the works in the U.S., but the rush for gas is both a financial and a climate risk, according to two new reports.