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September 30, 2015

Head of Bank of England Warns of Risk of Investing in Fossil Fuels 
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The governor of the Bank of England has issued a sharp warning about the
financial risk of investing in fossil fuels. Mark Carney said Tuesday
night that investors could face potentially huge losses if reserves of
oil, coal and gas are deemed "unburnable." Environmental groups have
long warned companies of the financial risks of not divesting from
fossil fuels. Carney said the window for fossil fuel divestment is
closing.

Mark Carney: "The combination of the weight of scientific evidence and
the dynamics of the financial system suggest that in the fullness of
time climate change will threaten financial resilience and longer-term
prosperity. While there's still time to act, the window is finite and is
closing."

 

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