|
B
|
illions of dollars of
investments in Australia's fossil fuel industries are at risk of becoming white
elephants as global momentum builds to address climate change.
As Fairfax Media today begins a series examining climate
change policies and politics, experts have spoken out about the growing
financial risk posed by investments in fossil fuels.
They say it is now likely the nation will be lumbered with
costly unviable assets, especially in coal, as major economies take action to
limit global warming to 2 degrees Celsius – an undertaking endorsed this month
by G7 nations.
It is claimed that the cost of over-investment during the
recent mining boom may already outweigh what would have been the cost of
Australia's share in climate action to 2050.
Read the Sydney
Morning Herald - “Climate Change: Australia set to be lumbered with cost stranded assets”.
No comments:
Post a Comment