In a move that’s likely to cause consternation in some of the world’s most powerful corporate boardrooms, the Bank of England has disclosed that it is launching an inquiry into the risks fossil fuel companies pose to overall financial stability.
Articles: stranded assets (5)
News that last month was the world’s hottest June on record provided another reminder that urgent global action is needed to combat climate change.
In the transition towards a post-carbon future, infrastructure built today for fossil fuels could easily become stranded assets which burden investors and taxpayers with sunk costs.
Climate change is already impacting all continents. But it isn’t yet impacting all companies.
In case you haven’t been able to keep up with all the details and implications of ever-spiralling global energy use, the financial risks are increasingly varied.