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Minsky Moment Carbon Tracker warned that as a result a wealth-damaging correction or “Minsky Moment” – whereby a sudden decline in market sentiment leads to a market crash – was virtually inevitable.
“The harsh reality is that emissions are continuing to rise,” says Philipponnat, adding that much of the discussion among policymakers has centred around reducing the CO2 intensity of our globaleconomy. As these perilous climate projections unfold, one might expect an inevitable upheaval in the globaleconomy.
Increasing gas infrastructure must be avoided to avert dangerous climate impacts and strandedassets.”. Instead of slowing down the decarbonisation of the globaleconomy, now is the time to accelerate the energy transition to a renewable energy future.”.
It makes no long-term sense to continue pumping money into an asset that is already destined to eventually have no value — a strandedasset. With around 70% of the globaleconomy now committed to net-zero greenhouse gas emissions, the urgency of exiting coal and completely phasing out fossil fuel subsidies is clear.
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