Subscribers

Financial concept of 'carbon bubble' has humble beginnings

Risk of stranded carbon that may never be extracted has become a campaign to dump fossil fuel holdings

Paris

PORING over a Bangladeshi flood map as a London financial analyst 12 years ago, Mark Campanale had no idea the moment would spawn a financial concept powerful enough to rivet central bankers, anger oil moguls and fuel a grassroots movement to get investors to dump their fossil fuel holdings.

The map was in the prospectus of a British firm seeking to raise money to build a coal-fired power plant in Bangladesh. Not only was Mr Campanale angry that a company would pump more carbon emissions into the air from a low-lying country vulnerable to climate change in the form of rising sea levels; he was also mystified that investors didn't see the financial risks that went with it.

"I was offended that...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes