This could be Exxon Mobil’s biggest threat

 In a speech last week, the Secretary General of the Organization for Economic Cooperation and Development (OECD) had a message for oil and gas investors: Their biggest risk isn’t a spill or a blowout or a storm. And for countries deriving a large portion of revenue from oil and gas, it isn’t the U.S. shale boom’s competing with OPEC. Rather, it is stranded assets in a carbon-entangled world, according to OECD Secretary General Angel GurrĂ­a. It’s also the biggest risk for any investor exposed to fossil fuels. The Asset Owners Disclosure Project estimates that an average 55 percent of pension fund portfolios are in high-carbon assets or sectors with major exposure to that sector.

Follow us

We are here to bring the world of ecosocialism to life.

Like Us On Facebook

Facebook Pagelike Widget