Why high-carbon investment could be the next sub-prime crisis

In today’s Guardian online, Ben Caldecott reports that “over-exposure to fossil fuel investments could have even more severe implications than those of the financial crisis.”

“More money is flowing into clean technologies than ever before – a record £150bn of investment last year – but money is also still pouring into coal, oil, gas, mining and other high-carbon sectors at a pace that severely undermines our efforts to tackle climate change and other environmental challenges.” (Caldecott, 12/07/11)

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Image source: The Guardian website
Datong, China: A street lamp in front of the Datong second coal-fired power plant at night. The global financial system faces a systemic risk from fossil fuels. Photograph: Jason Lee/Reuters