Climate Change and the Two-Thirds Imperative

Today’s fossil fuel reserves represent trillions of dollars of wealth, both on the balance sheets of companies such as ExxonMobil (XOM) and in the asset valuations that inform investors the world over. Being unable to sell most of those reserves would translate into a massive markdown on this wealth ($28 trillion according to one estimate). Its holders would surely resist mightily.

Climate Change and the Two-Thirds Imperative – Businessweek.

 

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