25 Jan '12, 4pm

Energy & economy - Jan 25 | Energy Bulletin

Published Jan 25 2012 by Energy Bulletin , Archived Jan 25 2012 Energy & economy - Jan 25 by Staff Click on the headline (link) for the full text. Many more articles are available through the Energy Bulletin homepage Fossil fuels are sub-prime assets, Bank of England governor warned Damian Carrington, The Guardian The huge reserves of coal, oil and gas held by companies listed in the City of London are "sub-prime" assets posing a systemic risk to economic stability, a high-profile coalition of investors, politicians and scientists has warned Bank of England's governor, Sir Mervyn King. In an open letter on Thursday, they tell King that the global drive to reduce carbon emissions could mean billions of pounds of fossil fuel reserves will rapidly lose value and cause a "major problem" for institutional investors and pension funds. At the most recent UN climate change summit ...

Full article: http://www.energybulletin.net/stories/2012-01-25/energy-e...

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