Carbon Bubble Will Burst Soon - Advertiser letter

18 May 2013

Our Press Officer Soo has recently had a letter published in the Bournemouth Advertiser which reads as follows:

A stark report by Stern and Carbon Tracker  about global economic meltdown warns that business-as-usual is not a viable option for the fossil fuel industry.  The "carbon bubble" means that oil, coal and gas have been over-valued and, as the world warms, countries must cut carbon to keep within the safer internationally agreed level of two degrees centigrade.

Rating agency Standard and Poor concludes that the risk could lead to the downgrading of the credit ratings of oil companies within a few years.   The International Energy Agency has concluded that a major part of fossil fuel reserves is unburnable.    

Perhaps we should start taking our renewables industry seriously.

 






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