Technological advances which are making renewable energy cost-competitive have made the global political and economic elites represented at the Paris climate talks increasingly receptive to phasing out fossil fuels.
Those who see the transition as inevitable are, in fact, actively encouraging big institutional investors to reduce their exposure to coal, oil, and gas producers whose reserves could be stranded in the ground as solar, wind, and other alternative sources become more widespread. There are not only more profitable opportunities to be had in renewables, but a wrong bet on the energy future threatens not only the traditional energy companies and their shareholders, but the banks, hedge funds, and insurers heavily invested in the sector. Notably, Mark Carney of the Bank of England, who has become the most vocal exponent of divestment in his capacity as chair of the G-20’s Financial Stability Board. used the Paris talks to announce the formation of a task force under former NY Mayor Michael Bloomberg to examine the systemic risks of unchecked climate change. http://www.theglobeandmail.com/report-on-business/international-business/task-force-to-develop-climate-change-risk-disclosure-guidelines/article27596773/ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
