Fossil Fuel Investments A $6 Trillion Mistake – Study

Investors in carbon-intensive business could see $6 trillion wasted as policies limiting global warming stop them from exploiting their coal, oil and gas reserves, says a report by the Carbon Tracker Initiative and the London School of Economics, reports Sally Bakewell at Bloomberg News. Fossil fuel industries invested well over half a trillion dollars last year in finding and developing reserves; at that rate, over a decade, the total investment would amount to more than $6 trillion. But up to 80% of the reserves of fossil fuel companies would be “unburnable” if the world is to achieve the UN climate target of limiting warming to a  4 degree Fahrenheit rise in temperature, said the study.  Furthermore, noted a study researcher, national air quality concerns and the falling price of solar and wind technologies should drive investors to seek low carbon opportunities. The report calls on finance ministers to incorporate climate change when assessing risk in the capital markets, and urges financial regulators to require companies to report CO2 emissions embedded in their fossil fuel reserves. It added that ratings agencies should also address climate change as part of efforts to tackle risk.

Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. It’s our way of telling Congress that a strong clean energy voting bloc is out there. This is how YOU can make a difference.

 

For more on Climate Change, check out my weekly column at the HuffingtonPost, Climate Change This Week : http://www.huffingtonpost.com/author/index.php?author=mary-ellen-harte

 

Source

A new study said fossil fuel investors could face a $6 trillion “bubble” as nations begin to regulate carbon pollution. [Bloomberg] http://www.bloomberg.com/news/2013-04-18/carbon-intensive-investors-risk-6-trillion-bubble-study-says.html

See the report: http://www.carbontracker.org/wastedcapital

See also:

http://thinkprogress.org/climate/2013/04/19/1894051/april-19-news-when-will-the-carbon-bubble-pop-costing-fossil-fuel-investors-6-trillion/

 

http://thinkprogress.org/climate/2013/04/17/1878501/as-china-addresses-its-airpocalypse-coal-exporters-fear-loss-of-another-market/

 

and The Increasing Risks of Fossil Fuel Investment : Greentech Media

http://www.greentechmedia.com/…/the-increasing-risks-of-fossilfue

Mar 21, 2013 – In the current political and economic environment, fossil fuel investments are looking much more risky than at any other time in history.

 

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About melharte

Mel (Mary Ellen) Harte is a biologist (PhD) and climate change educator. She co-authored the free online book, COOL THE EARTH, SAVE THE ECONOMY, available at www.CoolTheEarth.US, and writes the CLIMATE CHANGE THIS WEEK column at the HuffingtonPost. Living summers in the alpine Rockies, she is on the frontlines of watching what climate change can do. Her diagnostic digital photographs of wildflowers have appeared in numerous publications.
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2 Responses to Fossil Fuel Investments A $6 Trillion Mistake – Study

  1. A couple of days ago, I looked into a specific (profitable) company to invest in. When I found out that it involved fracking, I looked elsewhere and invested in a company that helps schools and businesses conserve on energy and use less energy.

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