Truzaar Dordi

Our research uses the R igraph package to map ownership dynamics between shareholders and the fossil fuel industry. Outputs include bipartite network visualizations and an interactive network graph. In line with this years theme, this research highlights how network models can inform policy and practice through storytelling on critical climate action. The results of the study find that just ten financial actors are disproportionately responsible for climate instability through their immense investments in fossil fuel firms.

Investors have a central role to play in sustainability transitions, due to their inordinate influence on the governance of the fossil fuel extraction industry. Using network analysis, this paper links fossil fuel firms to equity owners, by distinguishing ownership characteristics of top shareholders and establishing a ranked list of the most prevalent shareholders based on emissions potential and network centrality. Our study reveals that among the most prevalent owners, are government signatories of the Paris accord and prominent American investment managers. We conclude that a concentrated number of investors have the potential to influence the strategic direction and governance of these firms and should consequently be held accountable for financing the economic activities that contribute to climate instability. This paper directly contributes to the fragmented body of academic research on financial systems and sustainability transitions.