Description Carbon Tracker is an independent financial think tank that carries out in-depth analysis on the impact of the energy transition on capital markets and the consequences of potential investment in high-cost, carbon-intensive fossil fuels. Our objective is to build a stronger, evidence-based narrative to advocate, promote and achieve an understanding of the financial and environmental risks associated with carbon. We aim to empower investors to identify and switch off capital to the highest cost, highest carbon projects; to engage with companies to re-assess both the viability of such projects and of their business models; to educate mainstream financial markets and policy-makers over the risk of a disorderly transition; and to work with financial regulators to bring transparency on climate, stranded asset risk and the fossil fuel risk premium. Approach Carbon Tracker creates ideas that change how people think and act. Those changes are ultimately what will enable us to combat climate change. Specifically, our work focuses on shifting the behavior of a relatively small number of powerful, but influential institutions that drive financial markets, whether they be pension funds, rating agencies, or investment banks. We believe once markets gain greater insight and understanding of the financial risks and opportunities connected to the carbon bubble, investors will apply pressure to wind down the fossil fuel sector in line with a low carbon transition. They will do this to preserve the value of their investment because there is a clear financial case for doing so. Fossil fuel companies will then contract, leaving potential production untapped as part of an orderly transition to a low carbon future.