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Cut fossil fuel investments

Cut fossil fuel investments 30 December 2019

Firms must justify investment in fossil fuels, warns Mark Carney (via The Guardian)

By Andrew Sparrow

The outgoing governor of the Bank of England, Mark Carney, has said all companies and financial institutions must justify their continued investment in fossil fuels, and warned that assets in the sector could end up “worthless”.

In an interview with BBC Radio 4’s Today programme being broadcast on Monday, Carney said that although the financial sector was starting to cut back on investment in oil and gas companies, the process was not moving quickly enough.

Carney, who will focus on his new role as UN special envoy for climate change and finance after he steps down from the governorship in the new year, agreed to appear on the programme for an edition edited by the climate crisis campaigner Greta Thunberg, one of several guest editors on Today over the holiday period.

Read more via The Guardian