Moderator, Leaving Fossil Fuels Underground: Stakeholders, Barriers, and Vested Interests (CLIFF), Global Transformations and Governance Challenges, Leiden University, 8 June 2023

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What is the role of big investors in leaving fossil fuels underground (LFFU), what are the North-South implications of LFFU and what measures can be taken by whom to equitably allocate and accelerate shareholder and stakeholder responsibility in energy transformation for inclusive development? The aim of this panel is to present current knowledge on the major stakeholders, explore their relationships to the fossil fuel sector, the asymmetrical power relationships embedded within them, and discuss drivers and barriers to climate action, as well as opportunities for intervention. The panellists will discuss the key barriers and challenges that must be tackled to mitigate climate change, among them: the outsize importance of national oil and gas companies, consolidation and concentration of major fossil fuel financiers, the costs for developing countries in forsaking and stranding fossil fuel reserves and resources, the prohibitive effects of national debt on possibilities for climate action, and limitations of interventions rooted in neoliberal-financial logics. We hope to engage both panellists and attendees on potential levers of influence, avenues for intervention, agents of change, and their implications for just and inclusive outcomes.