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Institutional Investor (March 1)

2018/ 03/ 04 by jd in Global News

New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”

 

Washington Post (August 20)

2015/ 08/ 21 by jd in Global News

“If you care about climate change or air pollution, you cannot casually write off nuclear power, which produces virtually no carbon dioxide emissions while generating a tremendous amount of reliable power.” Renewables simply can’t fill the gap quickly enough. Without nuclear, burning additional fossil fuel is the alternative. “No one concerned about climate change should be willing to take it off the table…. The right response to Fukushima is to make sure reactors meet high safety standards, not to make the fight against global warming much harder.”

 

Wall Street Journal (October 30)

2013/ 10/ 30 by jd in Global News

Al Gore warns a carbon asset bubble “is still growing because most market participants are mistakenly treating carbon risk as an uncertainty, and are thus failing to incorporate it in investment analyses. By overlooking a known material-risk factor, investors are exposing their portfolios to an externality that should be integrated into the capital allocation process.” If we are to avoid catastrophic levels of global warming, many fossil fuel reserves will ultimately end up as stranded carbon assets. “The transition to a low carbon future will revolutionize the global economy and present significant opportunities for superior investment returns. However, investors must also acknowledge that carbon risk is real and growing. Inaction is no longer prudent.”

 

Institutional Investor (August Issue)

2013/ 08/ 17 by jd in Global News

“Investors confront the risk of a carbon bubble fueled by stranded oil and gas assets” should major governments decide to impose strict carbon legislation to combat climate change. One recent report asserts that “to limit the rise in global temperatures to 2 degrees Celsius between now and 2050, only 20 percent of the world’s fossil fuel reserves can be extracted and burned.”

 

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