By Helena Wright, Research Postgraduate, Centre for Environmental Policy
Earlier this month Carbon Tracker came to Imperial College London to discuss their report on ‘Unburnable Carbon’. The report outlines research which shows between 60-80% of coal, oil and gas reserves of publicly listed companies are ‘unburnable’ if the world is to have a chance of keeping global warming below the globally-agreed limit of 2°C. The event was followed by a lively debate.
The research, led by the Grantham Research Institute at LSE and the Carbon Tracker Initiative, outlines the thesis that a ‘carbon bubble’ exists in the stock market, as companies with largely ‘unburnable’ fossil fuel reserves are being overvalued.