ESG & Investing
Oil and Gas Companies Face an Era of Credit Downgrades, Fitch Warns
- Fitch analysis points to elevated risks in fossil fuel sector
- Failure to adapt to low-carbon future has ratings implications
Storage tanks at a BP Plc refinery near Blaine, Washington.
Photographer: James MacDonald/BloombergMuch of the fossil fuel industry may be facing an era of credit downgrades if producers prove too slow to adapt to a low-carbon future, according to Fitch Ratings.
Oil and gas companies stand out as the most vulnerable issuers in an analysis by Fitch, which sought to gauge how businesses will cope with climate risks such as increasingly stringent emissions regulations.