September 25: Global Conference on Stranded Assets and Environment (London)
Event Date: September 25 2015
Over the last two years the topic of ‘stranded assets’ created by climate change and other environment-related factors has loomed larger and larger. Not only has it sparked off one of the fastest growing social movements in history - the fossil free divestment campaign - it has also prompted reaction from a wide-range of key global actors, including: US President Barack Obama, UN Secretary-General Ban Ki-moon, Jim Kim (President of the World Bank), Mark Carney (Governor of the Bank of England), Christiana Figueres (Executive Secretary of the UNFCCC), Angel Gurría (Secretary-General of the OECD), Lord Stern of Brentford, Ben van Beurden (CEO of Shell plc), and Ed Davey (UK Secretary of State for Energy and Climate).
While stranded assets are a regular feature of economic systems and are a phenomenon inherent in the ‘creative destruction’ of economic growth, the causes of asset stranding appear to be changing. Environment-related factors are increasingly stranding assets across a wide range of sectors and geographies and this trend is accelerating. The factors range from physical climate change, through to new environmental regulations (including climate policy), developments in clean energy technology, resource constraints, evolving social norms, and litigation.
On Friday, September 25, Breakthrough cofounders Michael Shellenberger and Ted Nordhaus will present a keynote speech on decoupling as a strategy for stranded assets based upon the forthcoming report Nature Unbound.