ERC Starting Grant · 2016
The Ethics of Oil: Finance Moralities and Environmental Politics in the Global Oil Economy
In October 2014, the Chairman of the Bank of England Mark Carney warned that many oil reserves cannot be developed. If so, they would contribute so significantly to increased greenhouse gas emissions that international targets to avoid dangerous levels of global warming would be exceeded. However, stock valuations of oil companies assume that all proven and probable reserves can indeed be produced. Amounting to a potentially enormous debt overhang, the Bank of England has launched an enquiry into the threat of a crisis similar to the subprime mortgage crash, known as the ‘carbon bubble’. This looming crisis with its ‘stranded assets’ raises urgent questions about the conflicting dynamics…
From the public funding record at EU CORDIS. Describes the funded project, not the reviews below.