Are The World’s Financial Markets Carrying A Carbon Bubble?
July 12, 2011 § Leave a comment
- Already in 2011, the world has used over a third of its 50-year carbon budget
- Only 20% of the total reserves can be burned unabated, leaving up to 80% of assets technically unburnable
By allocating fossil fuel reserves to exchanges, the research has built up a picture of where reserves are listed. (Say hello, London.) The map shows how the listings of coal, oil and gas reserves are distributed – needless to say, the capital markets are supporting the continued exploitation of fossil fuel reserves around the world.