Friday, November 1, 2013

Al Gore: world is on brink of 'carbon bubble'



Al Gore: world is on brink of 'carbon bubble'
Gore and partner David Blood call on companies to 'do their fiduciary duty' and identify carbon risks in their portfolios
Fiona Harvey, environment correspondent
theguardian.com, Thursday 31 October 2013 21.08 EDT        
The world is on the brink of the "largest bubble ever" in finance, because of the undisclosed value of high-carbon assets on companies' balance sheets, and investment managers who fail to take account of the risks are failing in their fiduciary duty to shareholders and investors, Al Gore and his investment partner, David Blood, have said.

"Stranded carbon assets" such as coal mines, fossil fuel power stations and petrol-fuelled vehicle plants represent at least $7tn on the books of publicly listed companies, and about twice as much again is owned by private companies, state governments and sovereign wealth funds.

As the danger from climate change intensifies, and as rules on carbon and the introduction of carbon pricing in many parts of the world start to bite, these assets are expected to come under threat, from regulation and from the need to transform the economy on to a low-carbon footing. The "carbon bubble" has been identified by leading thinkers on climate change in recent years, but so far the findings have had little real effect on investor behaviour.

David Blood
David W. Blood was an advisory council member for the Acumen Fund, and is a co-founder & senior partner for the Generation Investment Management.

Note: Andrea Soros is a director at the Acumen Fund, and is George Soros’s daughter.
George Soros is Andrea Soros’s father, and the chairman for the Foundation to Promote Open Society.
Foundation to Promote Open Society was a funder for the Climate Reality Project, and the Aspen Institute (think tank).
Albert A. Gore Jr. is the chairman for the Climate Reality Project, and a co-founder for the Generation Investment Management.
Peter S. Knight is the president for the Generation Investment Management, and a director at the National Park Foundation.
Jonathan B. Jarvis is a director at the National Park Foundation, and a director at the National Park Service.
‘War’: Vets planning ‘Million Vet March on the Memorials’ against Obama
Sunday, October 13, 2013
As World Net Daily reported Wednesday, “veterans first fought America’s wars, then they fought the National Park Service over White House-ordered closures of war memorials because of the partial shutdown of the federal government.”
Bryan Traubert is a director at the National Park Foundation, and married to Penny S. Pritzker.
Penny S. Pritzker is married to Bryan Traubert, and a member of the Commercial Club of Chicago.
James S. Crown is a member of the Commercial Club of Chicago, and a trustee at the Aspen Institute (think tank).
Lester Crown was a lifetime trustee at the Aspen Institute (think tank), and is a member of the Commercial Club of Chicago.
Commercial Club of Chicago, Members Directory
Please note: This link for the members of the Commercial Club of Chicago can no longer be found.
Valerie B. Jarrett is a member of the Commercial Club of Chicago, and the senior adviser for the Barack Obama administration.








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