@article{Semieniuk:300962,
      recid = {300962},
      author = {Semieniuk, Gregor and Holden, Philip B. and Mercure,  Jean-Francois and Salas, Pablo and Pollitt, Hector and  Jobson, Katharine and Vercouren, Pim and Chewpreecha,  Unnada and Edwards, Neil R. and Viñuales, Jorge E},
      title = {Stranded fossil-fuel assets translate to major losses for  investors in advanced economies},
      address = {2022},
      number = {ARTICLE},
      abstract = {The distribution of ownership of transition risk  associated with stranded fossil-fuel assets remains poorly  understood. We calculate that global stranded assets as  present value of future lost profits in the upstream oil  and gas sector exceed US$1 trillion under plausible changes  in expectations about the effects of climate policy. We  trace the equity risk ownership from 43,439 oil and gas  production assets through a global equity network of 1.8  million companies to their ultimate owners. Most of the  market risk falls on private investors, overwhelmingly in  OECD countries, including substantial exposure through  pension funds and financial markets. The ownership  distribution reveals an international net transfer of more  than 15% of global stranded asset risk to OECD-based  investors. Rich country stakeholders therefore have a major  stake in how the transition in oil and gas production is  managed, as ongoing supporters of the fossil-fuel economy  and potentially exposed owners of stranded assets.},
      url = {http://repository.graduateinstitute.ch/record/300962},
      doi = {https://doi.org/10.1038/s41558-022-01356-y},
}