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dc.contributor.authorSemieniuk, Gregor
dc.contributor.authorHolden, Philip
dc.contributor.authorMercure, Jean-Francois
dc.contributor.authorSalas, Pablo
dc.contributor.authorPollitt, Hector
dc.contributor.authorJobson, Katharine
dc.contributor.authorVercoulen, Pim
dc.contributor.authorChewpreecha, Unnada
dc.contributor.authorEdwards, Neil
dc.contributor.authorVinuales, Jorge
dc.date.accessioned2022-06-17T16:01:11Z
dc.date.available2022-06-17T16:01:11Z
dc.date.issued2022-06
dc.date.submitted2021-08-24
dc.identifier.issn1758-678X
dc.identifier.others41558-022-01356-y
dc.identifier.other1356
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/338208
dc.description.abstractThe 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, both as ongoing supporters of the fossil-fuel economy and potentially exposed owners of stranded assets.
dc.languageen
dc.publisherNature Research
dc.subjectArticle
dc.subject/706/4066/4098
dc.subject/704/106/694/682
dc.subject/706/689/159
dc.subjectarticle
dc.titleStranded fossil-fuel assets translate into major losses for investors in advanced economies
dc.typeArticle
dc.date.updated2022-06-17T16:01:10Z
prism.endingPage538
prism.issueIdentifier6
prism.publicationNameNature Climate Change
prism.startingPage532
prism.volume12
dc.identifier.doi10.17863/CAM.85619
dcterms.dateAccepted2022-03-22
rioxxterms.versionofrecord10.1038/s41558-022-01356-y
rioxxterms.versionVoR
rioxxterms.licenseref.urihttp://creativecommons.org/licenses/by/4.0/
dc.contributor.orcidSemieniuk, G [0000-0002-2747-595X]
dc.contributor.orcidHolden, PB [0000-0002-2369-0062]
dc.contributor.orcidMercure, JF [0000-0003-2620-9200]
dc.contributor.orcidSalas, P [0000-0003-4046-2376]
dc.contributor.orcidPollitt, H [0000-0002-0507-3220]
dc.contributor.orcidVercoulen, P [0000-0002-2468-5513]
dc.contributor.orcidEdwards, NR [0000-0001-6045-8804]
dc.identifier.eissn1758-6798
pubs.funder-project-idNERC (via Open University) (AMS-724409 CLS-380-25)
cam.issuedOnline2022-05-26


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