Something that's actually good

The second edition of the Carbon Tracker Initiative is out and it states its conclusion in unequivocal language:

"The growing number of coal mining companies listing in London exposes the financial market to a significant systemic risk."

The key difference here which makes Carbon Tracker a potentially radical tool for change is that it points to significant flaws in how both the third sector and international climate negotiations have dealt with the fossil fuel industry (NGOs on campaigning against development of coal on the ground across UK/Europe, and the UNFCCC in promoting national emissions reduction targets):

"The UK has only 0.02% of the world’s coal reserves, and campaigners have been largely successful in preventing new coal-fired power stations in the UK and the rest of Europe. However the UK continues
to play a major role in providing capital to support the development of the world’s coal stocks via the London stock market...The traditional focus of global climate negotiations has been on the carbon emissions emitted by different countries within their own borders. But the globalisation of capital markets means that investors can hold a coal company stock on the London market which has coal reserves in, for example, Australia, which is then sold in a third country, for example, China."

One word: system.

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