ExxonMobil, ConocoPhillips and Chevron are leading a pack of international oil companies (IOCs) that risk stranding more than $1 trillion in assets over the next decade because they are too slow in shifting capital into renewables, Carbon Tracker says.

The financial think-tank said IOCs have “not woken up to the ‘seismic implications’” of the International Energy Agency finding that investment in new oil and gas developments must be halted immediately if global warming is to be limited to 1.5