Climate change and risks to fossil fuel industry: sustainability train has left the station

Commercial activity in fossil fuels is increasingly at odds with global actions to reduce the threat of climate change. Burning coal, oil, and natural gas is responsible for two-thirds of humanity’s emissions of greenhouse gases, and yet provides more than 20% of GDP in two dozen nation states. By Citicorp’s estimate, current commitments to reduce these emissions could mean forgoing $100 trillion in fossil fuel revenues by 2050—representing a huge disruption to global affairs, undermining national budgets and corporate balance sheets while exposing stakeholders, including pension holders and ordinary citizens in resource-exporting states, to myriad risks.  …. [Persbericht]