Episode 77: Interview with Mark Campanale, Founder of Carbon Tracker Initiative
In this interview with Mark Campanale, we discuss divestment from coal, oil and gas and the carbon bubble.
Mark asks the important question, if we can’t even burn all the reserves of fossil fuel companies, why are we still investing in their expansion, which could end the world as we know it? Stock prices are not properly valuing the climate risk.
He goes on to describe the substantial momentum that has begun to take hold, with many taking a step up to voice their concerns and divest by moving their investments to clean energy technology or simply away from coal, oil, and gas. Over 8 trillion dollars of investments have announced divestment.
Momentum around climate risk still varies a lot by geography, and some still think that only the government can solve the issue. Fortunately more and more are saying we can’t wait for the government and we must act now.
What we need companies to act responsibly, and incorporate climate risks into their goals and bottom line. We need a steady change to a low carbon future to avoid the bubble bursting.
Mark Campanale is the founder of the Carbon Tracker Initiative, a non-profit think tank launched to pinpoint with clarity how global capital markets have failed to deal with climate risk. Mark developed the unburnable carbon capital markets thesis, the idea that there are substantial fossil fuel energy sources that cannot be burnt, if the world is to adhere to the necessary carbon budgets to limit global warming. Mark commissioned and was editor of the “Unburnable Carbon – Are the World’s Financial Markets Carrying a Carbon Bubble?” report that launched launched in 2011.
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