Barry intervened in COP26 questions in the House of Commons to ask what Alok Sharma, the COP president, is doing to engage with the heads of financial sectors across the world about how they are dealing with the issue over $1 trillion in projected “stranded assets” due to low-carbon transition.
Driven by technological, societal and political change, renewable energy technologies are progressively replacing fossil fuels. A recent report found that, under an expectation that governments will fulfill their net-zero emissions pledges, these changes will accelerate, with the consequence that current oil and gas assets may be overvalued by more than $1 trillion.
WATCH Barry’s question 🔽