Debate heats up on risk of frozen fossil fuel assets

December 31, 2014 at 12:03 pm Leave a comment

Mark Carney, governor of the UK’s central bank, has written to British Members of Parliament telling them that his officials have been discussing whether or not coal, oil and gas reserves held by the fossil fuel industry are, in fact, unburnable.

The idea is that if global warming is to be tackled and catastrophic climate change averted, such energy resources will have to be left where they are − under the ground. They will, in effect, become frozen or stranded financial assets.

A growing number of senior figures in the financial community – some of them controlling many millions of dollars worth of investment funds – have been pressing fossil fuel companies to disclose how investments would be affected if energy reserves became frozen or stranded by regulatory moves associated with tackling climate change.

Read the full article HERE on Resilience.

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Entry filed under: Carbon_Emissions, Energy.

Planting for an Edible City Hearty Program of Film – FED UP on Sunday Jan. 18

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