climate change and they grow awareness of that, investors care about climate and ultimately the asset owners and pension funds acting on their behalf need to take those concerns seriously. not only concerned about climate, but energy transition risk they must be concerned about. so the renewable system creates a challenge for oil and gas companies, and they must ensure that companies are planning for that transition, and one of the key points of that is for planning for oil and gas volumes to reduce in the future. so for oil and gas volumes to reduce in the future. , ., for oil and gas volumes to reduce in the future. i. , . . for oil and gas volumes to reduce in the future- the future. so you research the im act the future. so you research the impact of the future. so you research the impact of climate the future. so you research the impact of climate change - the future. so you research the impact of climate change on i impact of climate change on financial markets, and you ve l
not, if the ev industry takes off as we are seeing it take off? t not, if the ev industry takes off as we are seeing it take off?- we are seeing it take off? i think there is two we are seeing it take off? i think there is two important we are seeing it take off? i think there is two important points, i there is two important points, there s the existing production assets these companies have, but the future revenues from these assets may reduce due to volume impact, but also price impact, and what that does is brings the value of those assets on the books and it may need to be impaired as a result of this. it s really important that companies disclose that information in a transparent way to investors, and the financial system as a whole analyses that to adequately price risk of the future. additionally if companies are seeking to invest new production assets predicated on returns over decades to come, those assets run the risk of becoming stranded, adding to the climate problem b