Join us for another free BCSEA Webinar
What is the limit to the cumulative emissions of carbon in the atmosphere, which we must limit if we are to remain below the dangerous 2 Celsius increase in global temperature?
Fossil fuel companies and oil producing nations have confirmed reserves, with firm plans to extract them, of enough fossil fuels to generate about 2,975 GT CO2e - five times more than can be burnt if we are to avoid 'disastrous' climate change.
In 2012, these reserves were valued at US $4 trillion of share values and US $1.27 trillion in debt; a further US $650 Billion was spent on exploration for yet more reserves.
What will be the effects on the financial system if these are stranded assets? What are the financial risks of holding or buying them now ? And how could these funds be re-allocated to safe renewable energy sources which will have more secure future returns ?
And what are the consequences for coal, oil and natural gas expansion and exploration plans, and the governments and companies involved?
In preparation for the webinar, here is an edited report of their work in 2013.
There is no charge for this Webinar, but you must register here.Please note that it will run in Pacific Standard Time.
See previous Webinar recordings and preentations on our Past Webinars page.
Mark Campanale is Founding Director of The Carbon Tracker Initiative in London UK. He conceived and originated the ‘unburnable carbon’ thesis which was picked up by Bill McKibben in Rolling Stone Magazine and has since taken on huge global significance. He was editor of Unburnable Carbon, are markets carrying a carbon bubble? report, and the 2013 Report Wasted Capital.
Mark is responsible for strategy, board matters and developing our capital markets framework analysis. Prior to forming Carbon Tracker, Mark had twenty years experience in sustainable financial markets.
He is co-founder of some of the first responsible investment fund at Jupiter Asset Management, NPI, AMP Capital, and Henderson Global Investors. Mark served on the World Business Council for Sustainable Development working group on capital markets leading up to the 1992 Earth Summit; was a Member of the Steering Committee of UNEP Financial Sector Initiative (1999-2003), and continues to advise a number of investment funds.
He was a founder firector of the UK Sustainable and Responsible Investment Forum (UKSIF), 1990-2006, is a member of the Advisory Council of SASB (Sustainable Accounting Standards Board) and ImpactBase.org and the UNEP-WRI working group on greenhouse gas emissions and the financial sector.