In their recent report, “Climate Litigation: Assessing Potential Impacts Remains Complex,” S&P Global Ratings delves into the escalating number of climate cases over the past decade. Remarkably, despite the increase from 61 climate cases in 2013 to a striking 132 in 2023, the credit quality of the oil and gas sectors shows robust resilience.
Climate Cases Haven’t Hurt Oil, Gas Credit Quality, S&P Says: Unshaken by Climate Cases
According to S&P, there have been no credit rating adjustments directly attributable to climate litigation risks within the oil and gas industry. This stability suggests that, up to this point, the sector can withstand the legal pressures associated with climate cases. Thomas Englerth, Bruno Bastit, and Paul O’Donnell, the authors of the report, caution, however, that escalating costs from climate litigation could potentially alter the financial landscape for some companies in the future.
Climate Cases Haven’t Hurt Oil, Gas Credit Quality, S&P Says: A Global Perspective on Climate Cases
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