000300962 001__ 300962
000300962 005__ 20250213115755.0
000300962 0247_ $$2doi$$a10.1038/s41558-022-01356-y
000300962 037__ $$aARTICLE
000300962 245__ $$aStranded fossil-fuel assets translate to major losses for investors in advanced economies
000300962 269__ $$a2022
000300962 336__ $$aJournal Articles
000300962 520__ $$aThe distribution of ownership of transition risk associated with stranded fossil-fuel assets remains poorly understood. We calculate that global stranded assets as present value of future lost profits in the upstream oil and gas sector exceed US$1 trillion under plausible changes in expectations about the effects of climate policy. We trace the equity risk ownership from 43,439 oil and gas production assets through a global equity network of 1.8 million companies to their ultimate owners. Most of the market risk falls on private investors, overwhelmingly in OECD countries, including substantial exposure through pension funds and financial markets. The ownership distribution reveals an international net transfer of more than 15% of global stranded asset risk to OECD-based investors. Rich country stakeholders therefore have a major stake in how the transition in oil and gas production is managed, as ongoing supporters of the fossil-fuel economy and potentially exposed owners of stranded assets.
000300962 542__ $$fOpen Access - Creative Commons Attribution 4.0 International License$$uhttp://creativecommons.org/licenses/by/4.0/
000300962 580__ $$aIn: Nature Climate Change. - Volume 12(2022), pages 532–538
000300962 6531_ $$aEnvironment and the Anthropocene$$0319125
000300962 6531_ $$aFinance and Investment$$0319126
000300962 700__ $$aSemieniuk, Gregor
000300962 700__ $$aHolden, Philip B.
000300962 700__ $$aMercure, Jean-Francois
000300962 700__ $$aSalas, Pablo
000300962 700__ $$aPollitt, Hector
000300962 700__ $$aJobson, Katharine
000300962 700__ $$aVercouren, Pim
000300962 700__ $$aChewpreecha, Unnada
000300962 700__ $$aEdwards, Neil R.
000300962 700__ $$aViñuales, Jorge E
000300962 8564_ $$90556b3e9-4d2a-467d-9deb-c4eddc086b5c$$s2347815$$uhttps://repository.graduateinstitute.ch/record/300962/files/s41558-022-01356-y.pdf
000300962 901__ $$uInternational Law Department$$0319287
000300962 909CO $$ooai:repository.graduateinstitute.ch:300962$$pGLOBAL_SET$$pIHEID:Explore
000300962 981__ $$aoverwrite