Coal, oil & gas gone “rogue”, need to lobby super, banks etc to divest

Hewson says the average pension fund invests about 55 per cent of its portfolio in ”high-carbon intensive industries” and only 2 per cent in their low carbon counterparts….The best way is to put a higher percentage of their funds in low carbon-intensive industries. Typically, super funds invest heavily in ”passive funds” that track the market – deviating from that benchmark entails a risk of doing worse than everyone else.

Nick Robins is head of climate change centre at HSBC Bank, in London…In their scenarios, it could nearly halve the value of coal assets on the London exchange, and knock three-fifths from the value of oil and gas companies. And yet, he says, ”at the moment this risk is not being priced at all”
Read more: http://www.theage.com.au/business/carbon-economy/bursting-the-carbon-bubble-20130214-2efob.html

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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