With the signing of the Inflation Reduction Act I started doing some research on the impacts it may have and while digging I came across this report from insurance giant Swiss Re saying that the climate crisis could cost the global economy $22.5T and would cause a financial crisis much worse than 2008. Then I found this article warning that anyone with money invested in fossil fuels could see big losses as they become stranded assets (basically either governments don’t do enough on climate and natural disasters cause economic chaos or they listen to the science which says all these fossil fuel reserves need to stay in the ground). So my question after reading all this, is there any reason to stay invested in fossil fuels? Seems to me people are just going to get royally screwed in the long run.
Leave a Reply