World Stock Markets are Betting on Inaction on Climate Change by all the world's major emitters.
Lord Stern of the London School of Economics warned that a new Carbon Bubble akin to the financial crisis could be on the cards as major markets around the world invest on ever increasing production and consumption of fossil fuels such as oil and gas.
The apt named "Carbon Bubble" is the result of an over-valuation of fossil reserves held by major energy companies. According to the recent report by Stern, 2/3s of these oil, gas and coal reserves will have to remain in the ground if the world is to meet EXISTING internationally agreed targets to avoid the threshold for "DANGEROUS" Climate Change.
As discussed in the report, the "Carbon Bubble" could develop from these reserves being unburnable under agreed measures and so worthless leading to massive market losses for those invested in the area, including large pension funds.
One option for people worried of these issues is to insist that their pension funds and investments are not invested in any fossil fuel based companies.