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
