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United Kingdom: Fossil fuel investing risk to pension funds, says Ed Davey
2014-12-07 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Telegraph: Investing in fossil fuels is becoming increasingly risky because global action to tackle climate change will curb demand, forcing companies to leave unprofitable reserves in the ground, Ed Davey, the energy secretary, has warned. Financial authorities must examine the risks posed by coal, oil and gas companies to prevent pension funds investing in what could become "the sub-prime assets of the future', Mr Davey said. The comments are Mr Davey's first intervention into the debate over the "carbon...
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Category:Electronics and Electrical