by The FINANCIAL September 10, 2021 4 mins read
The FINANCIAL — An Oxford University and University College Cork study today reveals the scale of the challenge facing large power companies in the EU and UK if they delay aligning their portfolios with net zero.
The researchers found that a ‘significant majority’ of companies within the sector could have the financial resources to close their carbon emitting power plants early. But if they delay action for just five years, fourteen out of the twenty-nine companies analysed suffer declines in credit ratings related to having enough money to pay interest payments on loans. Credit ratings fell for twelve companies based on having less money available to pay back their loans, including one which was rated as high risk.
Delayed action on climate increases the amount of cashflows that needs to be reinvested to sustain the company from lost cashflows associated with…
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