Mark Carney and the need to leave oil in the ground

In recent years, it seems that the focus of discussions about how to tackle climate chance has moved from talking about ‘reducing carbon emissions’ to one about the need to leave fossil fuels in the ground. It’s good to see that a leading financial figure, Mark Carney, the governor of the Bank of England, has recognised this issue and is bringing it to the attention of the financial community. In the context of stranded assets for companies such as ExxonMobil, he has been saying that the vast majority of oil deposits should be considered “unburnable”  if the world wants to avoid catastrophic climate change.

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