Reserves held just by the 200 top publicly listed fuel companies – thus excluding state-owned producers such as Saudi Arabia’s Aramco – exceed this carbon budget by one-third. And that means that these companies’ stock-market valuation is inconsistent with containing global warning.
最大的200家上市燃料公司——因此不包括沙特阿美石油（Aramco）等国有生产商——所持有的储备就比这一碳预算多出三分之一。这意味着这些公司的股市估值与遏制全球变暖不相符。