February 13, 2020
Extinction Rebellion Columbia writes in The Columbia Daily spectator:
As Columbia’s own Adam Tooze, Professor of History and author of Crashed: How a Decade of Financial Crises Has Changed the World, has written, the stranded asset risk in the broader industrial sector reaches 20 trillion dollars. For comparison, the 2008 financial collapse was caused when losses ran “only” to a few hundred billion. In that case, a small minority of investors fully understood the reckless nature of their actions, and yet they chose to continue with repercussions that have permanently scarred the global psyche. Today, holders of fossil fuel investments are equally aware of the risk, and have a brief window of time to acknowledge how this grossly transgresses any notion of “socially responsible investing.”
Originally published in The Columbia Daily Spectator. Read the entire story here.
Read Adam Tooze’s thoughts on the topic in Foreign Policy here.