Bank of England investigates ‘carbon bubble’ risk

The Bank of England is conducting an investigation into the risk of fossil fuel companies causing a major economic crash if future climate change rules make their assets worthless. The concern around the so-called “carbon bubble” is that if governments across the globe meet their target of limiting global warming to 2°C by cutting emissions, […]

Mark Carney reckons most fossil fuels “un-burnable”

Governor of the Bank of England Mark Carney appears to agree most fossil fuels can’t be used if the world is to avoid climate change. At a World Bank event on Friday, he is quoted as saying: “The vast majority of reserves are unburnable.” This is a reference to the idea of a so-called carbon bubble […]

‘Carbon bubble’ threatens UK economy, MPs warn

The financial markets could be creating a “carbon bubble” by overvaluing companies that produce fossil fuels and greenhouse gases – and this poses a serious threat to the economy, MPs have warned. Companies should be forced to report on their greenhouse gas emissions and assess the risk this could pose to their future financial performance, […]