New York: where the carbon bubble threat goes mainstream?

To tackle climate change, the vast quantities of cash tied up in fossil fuel assets needs to flow into low carbon sectors.

For some, the only route to a green economy is the overthrow of capitalism. Naomi Klein is the latest to articulate this view and it plays well with the political left.

Meanwhile, the Carbon Tracker Initiative is playing a different game. It is using the language of finance to show coal, oil and gas are poor investments on capitalism’s own terms.

For these pioneers of the “carbon bubble” concept, next week’s climate summit in New York presents a unique opportunity to inject that message into mainstream thinking.

On Monday the CTI will launch its latest study, focused on the financial risks faced by coal investors.

While oil bosses have dismissed its analysis as “alarmist”, it has a logic the financial sector can ill afford to ignore.

“You are not making a climate or moral argument, it is a financial argument,” CEO Anthony Hobley tells RTCC.

– See more at: http://www.rtcc.org/2014/09/18/new-york-where-the-carbon-bubble-threat-goes-mainstream/#sthash.KALq5ZUg.dpuf


Follow us

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

Like Us On Facebook

Facebook Pagelike Widget
What Might An Ecosocialist Society Look Like?
On Sept 19, 2023 ahead of the Climate Ambition Summit in New York City, climate activists gathered for a rally and civil disobedience outside Bank of America Tower in Midtown Manhattan as part of the March to End Fossil Fuels wave of actions resulting in multiple arrests. Activists demand Bank of America to “Defund Climate Chaos and Defend Human Rights” Photo: Erik McGregor (CC BY-NC 2.0 Deed)

Let’s Save Each Other

Let’s Save Each Other

Illustration by Stephanie McMillan. Used with permission