‘Carbon bubble’ could spark global financial crisis, study warns
The Guardian reports: Plunging prices for renewable energy and rapidly increasing investment in low-carbon technologies could leave fossil fuel companies with trillions in stranded assets and spark a global financial crisis, a new study has found. A sudden drop in demand for fossil fuels before 2035 is likely, according to the study, given the current global investments and economic advantages in a low-carbon transition. The existence of a “carbon bubble” – assets in fossil fuels that are currently overvalued because,…