Emission Hurdles

Emission Challenges

Mine Workers concern for their future:

This ABC video interview with coal-mining families highlights the difficulty they face. Many accept the facts of global warming, and that it is caused in no small way by the work they do every day to provide the necessities of life for their families.

Until they are persuaded that there is a viable transition between their current job and some new industry that will enable them to live where they have always lived, and in a manner similar to what they have now, they will be anxious about embracing Climate Action.

Vested interest of Financial Institutions

So long as the money to be made from funding fossil fuels exceeds the financial risk, banks and insurance companies will provide the funding and insurance that the extractive industries need to keep pulling coal, oil and gas out of the ground

So, some of the more committed Climate Action Groups like Extinction Rebellion and Market Forces work hard to target the executives of these financial institutions, through Social Media and Direct Action aimed at making their customers aware of the instituitions involvement driving Climate Change. They also target the shareholders and directors.

In this example a Facebook video created by Market Forces parodies an insurance company's own promotional material to drive home the message that it is time to cut funding to the extractive industries.

The risk of "stranded assets"

Kingsmill Bond tells us that investors are impacted by the transition in 3 ways

• The fossil fuel sector is the world's largest sector in regard to the amount of deployed infrastructure with $25 trillion worth of assets. As renewables start to push down demand for fossil fuels, increasingly that becomes stranded, and you get stranded assets, and you get very significant financial losses.

• You have a significant number of countries where fossil fuels makes up a very large percentage of their GDP and wealth and rents. Specifically there are 12 countries where that's over 10% of GDP. All those countries will be at risk as rents from the fossil fuel sector start to decline

• Up to a quarter of debt and equity indices are in fossil fuel and related sectors which will be damaged as this transition starts.