06 Feb '12, 3pm

Sir Mervyn King hints at possible "carbon bubble" investigation @BankofEngland via @businessgreen

Governor of the Bank of England Sir Mervyn King has confirmed regulators could investigate whether exposure to fossil fuel-related assets pose a long-term risk to financial stability, although he insisted a number of conditions would have to be met before such an investigation could be launched. Responding to an open letter from a coalition of investors, politicians and academics that warned markets could be facing a so-called "carbon bubble" due to the valuation of energy and mining companies based on fossil fuel assets that they cannot safely burn, King said the group raised "interesting issues" that the Bank's Financial Policy Committee (FPC) could be obliged to investigate. FURTHER READING EU wind energy capacity grew 11 per cent during 2011 DECC outlines vision for British wind farms made from British parts The group, which was orchestrated by investment firm Climate ...

Full article: http://www.businessgreen.com/bg/news/2144235/sir-mervyn-k...

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