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

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.

FULL ARTICLE HERE