Climate Risk and the Fossil Fuel Industry: Two Feet High and Rising
climate change risk; fossil fuel; stranded assets; unburnable carbon; carbon bubble; carbon budget; divestment; carbon price; carbon tax; cap-and-trade; INDCs; COP 21; shareholder risk; leave it in the ground; greenhouse gas; GHG; decarbonization
Burning coal, oil and natural gas is responsible for two-thirds of the world’s greenhouse gas emissions. Yet these same fuels are also the economic mainstay of resource-rich countries and the world’s largest firms, meaning that climate change relief actions represent danger for the fossil fuel business. In this working paper, energy fellow Jim Krane examines the risks the fossil fuel industry faces as a result of climate mitigation strategies.