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dc.contributor.authorSemieniuk, Gregor
dc.contributor.authorHolden, Philip B
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 R
dc.contributor.authorVinuales, Jorge
dc.date.accessioned2022-07-25T23:30:06Z
dc.date.available2022-07-25T23:30:06Z
dc.date.issued2022-05-26
dc.identifier.issn1758-678X
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/339485
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.publisherNature Research
dc.rightsAll Rights Reserved
dc.rights.urihttp://www.rioxx.net/licenses/all-rights-reserved
dc.titleStranded fossil-fuel assets translate to major losses for investors in advanced economies
dc.typeArticle
dc.publisher.departmentDepartment of Land Economy
dc.date.updated2022-03-22T17:30:49Z
prism.publicationNameNATURE CLIMATE CHANGE
dc.identifier.doi10.17863/CAM.86900
dcterms.dateAccepted2022-03-22
rioxxterms.versionofrecord10.1038/s41558-022-01356-y
rioxxterms.versionAM
dc.identifier.eissn1758-6798
rioxxterms.typeJournal Article/Review
pubs.funder-project-idNERC (via Open University) (AMS-724409 CLS-380-25)
cam.orpheus.success2022-07-25 - Embargo set during processing via Fast-track
cam.depositDate2022-03-22
pubs.licence-identifierapollo-deposit-licence-2-1
pubs.licence-display-nameApollo Repository Deposit Licence Agreement
rioxxterms.freetoread.startdate2022-11-26


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