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W
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ell, we can’t say we
weren’t warned. Panic selling swept major global stock-markets on Tuesday in
what could be a foretaste of things to come, as investors suddenly woke up to
the fact that the game has changed. Fossil fuels and their associated
investments are in decline, and the world is heading rapidly towards new and
cleaner technologies.
A bunch of big stories this week highlight what is going on:
VW, Shell, Glencore, BHP, Origin Energy and AGL. All linked by a common thread
– their exposure to fossil fuels. It prompted a warning on the financial risks
of climate change by Mark Carney, the governor of the Bank of England.
Read the Reneweconomy
story - “Beginning of the end for fossil fuels? Panic sweeps global markets”.
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