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Experts Warn: Carbon Bubble Could Worsen Global Economic Crisis
2013-04-19 22:48:00| Climate Ark Climate Change & Global Warming Newsfeed
EcoWatch: The world could be heading for another major economic shock as stock markets inflate an investment bubble in fossil fuels to the tune of trillions of dollars, according to new research. In its second seminal report, Unburnable Carbon 2013: Wasted Capital and Stranded Assets, the Carbon Tracker Initiative found that firms invested $674 billion last year alone in projects trying to find and develop new fossil fuels reserves. To stick to current agreed global limits on emissions--and keep warming...
Tags: global
economic
experts
crisis
Carbon trading: ETS, RIP?
2013-04-19 15:28:00| Climate Ark Climate Change & Global Warming Newsfeed
Economist: THE worlds largest carbon market has been holed below the water line. On April 16th the European Parliament voted to reject an attempt to bolster Europes flagship environmental programme, the Emissions Trading System (ETS). Carbon prices, already low, plunged. The emerging network of global carbon trading and European climate policy as a whole could sink. The ETS has long been a mess. It is a cap-and-trade scheme in which permits to emit carbon--about 16 billion tonnes-worth in 2013-20, or roughly...
Carbon bubble will plunge the world into another financial crisis report
2013-04-19 10:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: The world could be heading for a major economic crisis as stock markets inflate an investment bubble in fossil fuels to the tune of trillions of dollars, according to leading economists. "The financial crisis has shown what happens when risks accumulate unnoticed," said Lord (Nicholas) Stern, a professor at the London School of Economics. He said the risk was "very big indeed" and that almost all investors and regulators were failing to address it. The so-called "carbon bubble" is the result...
Tags: world
report
financial
crisis
Countries most exposed to the carbon bubble - map
2013-04-19 07:17:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: This interactive map reveals which nations' stock exchanges are most exposed to the 'carbon bubble' - the theory that oil, coal and gas reserves held by fossil fuel companies are massively overvalued since climate change policy will make these reserves impossible to exploit and therefore ultimately worthless
Tags: map
countries
carbon
exposed
Chevron Defies California On Carbon Emissions
2013-04-19 06:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Bloomberg: Chevron Corp. (CVX) helped write the first-in-the-nation rule ordering reduced carbon emissions from cars and trucks. Its biofuels chief spoke at the ceremony where California Governor Arnold Schwarzenegger signed the executive order in 2007, the same year the oil company pledged to develop a gasoline replacement from wood. Now Chevron is leading a lobbying and public relations campaign to undercut the California mandate aimed at curbing global warming, two years after the state started phasing...
Tags: california
carbon
emissions
chevron
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