Compliance Energy Corp CPYCF

Citibank: Taking Climate seriously would cut Coal

[chrisale]

https://reneweconomy.com.au/2013/dig-baby-dig-citi-says-coal-investments-at-risk-20942

 

 

Australian based analysts at Citigroup says fossil fuel reserves in Australia face significant value destruction in a carbon constrained world, with the value of thermal coal reserves likely to be slashed dramatically if governments get serious about climate action. It says fossil fuel asset owners could be best advised to dig the resource up as quickly as they can.

In a further sign that the idea of carbon budgets is gripping mainstream investment and business discussion, Citi recognises the potential impact of “unburnable carbon” – where decisive climate policies will force the bulk of the world’s fossil fuels to be left in the ground. It says the declining cost of renewables could have the same impact.

[2guys]

It says fossil fuel asset owners could be best advised to dig the resource up as quickly as they can. Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32440805&l=0&r=0&s=CEC&t=LIST#yLdzzPrVSpptZkMC.99   Well that's not very environmentally responsible is it?  lol   I understand their point, but I wonder what a realistic timeline is

[chrisale]

Indeed... when their advice is to get in your last dig as soon as possible, it's clear where they believe the industry is headed. The question of what a 'realistic timeline' is to change to renewables is quickly becoming moot.  The changes we have caused to the Earth are starting to accelerate and multiply... we no longer have a choice of waiting until a panacea comes along