Published on: December 8th, 2021 • Duration: 26 minutes
If you've invested in oil and gas, a global shift towards renewables has potential to endanger $1 trillion in assets. Despite currently soaring oil prices, long-term trends away from fossil fuels threaten to wipe out around $1 trillion USD in the next decade for oil and gas producers, as Mike Coffin of Carbon Tracker warns. As the costs of wind and solar power rapidly fall and countries commit toward a net-zero carbon world, companies that fail to commit capital to the transition could be in danger of having their assets devalued. “This isn’t some ESG thing,” says Coffin. “This is a core financial risk.” Interviewed by Maggie Lake on December 2, 2021.
