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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

The coal industry is suffering the most. On the eve of the Paris conference, a US$34 billion state pension fund in Sweden pulled out of 28 coal companies, and insurer Allianz said it would cease investing in coal-heavy mining and utility firms.


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...