London Stock Exchange – occupied by coal
New analysis from Carbon Tracker endorsed by WWF shows how the growing number of coal mining companies listing in London exposes the financial market to a significant systemic risk. Investors tracking the FTSE AllShare Index are facing increasing efforts across the world to regulate the carbon dioxide (CO2) emissions from coal-fired power generation, most recently in Australia.Carbon Tracker estimates that coal reserves equivalent to 44.56 GtCO2 are held by companies listed on the London Stock Exchange. This is equivalent to 400 years of emissions from coal power stations in the UK, which currently stand at around 0.1Gt CO2 per annum.
Where are the reserves?
Do you know where the coal listed in London is actually located? Which are most likely to become stranded assets? To download the full briefing and map of where the coal is visit: http://www.carbontracker.org/coalcapital
Regulating the systemic risk
A number of investors, MP’s, NGOs and academic institutions have written to the Governor of the Bank of England, urging him to task the Financial Policy Committee with reviewing this risk. The letter is available at:http://www.carbontracker.org/coalcapital
Further coverage and comment available on http://www.guardian.co.uk/environment/2012/jan/19/fossil-fuels-sub-prime-mervyn-king?newsfeed=true