Are the world's stock markets - especially the London Stock Exchange - carrying far more fossil fuels than can be burned in the next 40 years, leaving investors exposed to a previously hidden 'carbon bubble'? According to new research released this week by financial thank tank Carbon Tracker they are. And in its report 'Unburned Carbon' it warns regulators, governments and investors not to "sleepwalk" towards another major financial disaster.
Carbon Tracker maintains that only one-fifth of the world's fossil fuel reserves can be used if global warming is to be limited to 2degC - yet far more than this is listed on the world's capital markets, with London currently holding fossil fuel reserves of over ten times the UK's domestic carbon budget for 2011 right up to 2050.
And with the London Stock Exchange loading up with more and more carbon through recent high-profile flotations, Carbon Tracker argues that the new Financial Policy Committee, set up to monitor risks and bubbles in the financial system, must address urgently this 'carbon bubble' and ensure regulators require greater disclosure on reserves and carbon emissions in order to assess this risk to financial stability. More information at www.carbontracker.org/carbonbubble.
EVENTS & EDUCATION
The Energy Event Show Preview
This year's Energy Event lines up a host of high-calibre speakers and around 150 suppliers, brokers, manufacturers and service providers. More?
Energy Lectures to tackle key issues
At this London conference, business and finance leaders will offer an insight into the major issues facing today's energy end users. More?
MACHINERY & PRODUCTION PROCESSES
Higher efficiency at a touch from zero-loss air dryers
Touch-screen technology in Hi-Line's Smart adsorption air dryers allows remote dial-in control via mobile phone or laptop. More?
Pump packages improve wastewater treatment efficiency
Two NOV Mono 'Munchpump' packaged pumping systems have improved efficiency at a United Utilities wastewater treatment plant. More?
BUILDINGS & FACILITIES
GEO system reduces supermarket carbon emissions
Retail chain Sainsbury's is reducing carbon emissions with a geo-exchange system now being rolled out to several key stores. More?
Finance scheme offers lighting savings at no capital cost
Energys is launching a Shared Savings Scheme where user savings pay for the supply and installation of energy-efficient lighting. More?
VEHICLES & TRANSPORT
Integral control valve helps hydraulic pump save fuel
New hydraulic piston pumps from Parker Hannifin help bring greater fuel efficiency and lower emission to on- and off-highway vehicles. More?
Lightweight hub improves vehicle handling and efficiency
By reducing component weight, SKF's hub bearing unit helps improve handling and load capacity, while reducing CO2 emissions. More?
ENERGY PROCUREMENT & MANAGEMENT
UPS can cut energy costs of office equipment
Eaton has introduced a version of its compact Ellipse ASR uninterruptible power supply to protect office equipment. More?
Compact power block powers down non-essentials
IDC's compact wireless power block shuts down lighting, HVAC and electronic equipment when it is not needed. More?
Multidrive helps put wind turbines through 25-year life test
A leading wind turbine research centre is using an ABB multidrive system to conduct accelerated life tests on turbine components. More?
Lease back scheme simplifies the cost of PV installations
Renewable energy supplier SolarTech is launching a lease back finance deal to help organisations fund the costs of PV installations. More?
FUNDING & FINANCE
ETI to invest £25m in turbine test rig at Narec
A £25m investment in an open access wind turbine drive train test rig has been announced by the Energy Technologies Institute. More?
LEGISLATION, REGULATION & STANDARDS
Huhne meets small suppliers at London energy summit
Energy Secretary Chris Huhne has met new energy suppliers to discuss breaking the dominance of the Big Six gas and electricity companies. More?