The Carbon Bubble

Related to and precedent to McKibben’s Rolling Stone article about the excess in carbon reserves and how their combustion is already wired into the financial systis this report on The Carbon Bubble at carbontracker.org .

In particular, in a UK context they advise:

Carbon Tracker argues that the new Financial Policy Committee, set up to monitor risks and bubbles in the financial system, must urgently address the “carbon bubble” and ensure regulators require greater disclose on reserves and carbon emission in order to assess this material risk to financial stability. Carbon Tracker recommends that this market failure is also considered by the Kay review into the structure of Equity markets to deliver a more long-term, transparent system.

Details may differ by region, but the principles are valid everywhere. The fossil fuel interests have cornered themselves into a disaster, and they are trying to drag everybody else down with them.

Hat tip to Jay Moynihan of Shawano WI.

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