A model based on plausible changes in expectations of future oil and gas demand identifies the ultimate financial owners of potential stranded assets to be predominantly OECD-based individual investors (through pension funds and shareholdings) and governments of non-OECD countries.
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Mercure, J.-F. et al. Reframing incentives for climate policy action. Nat. Energy 6, 1133–1143 (2021). This article models broader macroeconomic effects of the energy transition using the same scenario assumptions as the present paper.
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Semieniuk, G., Campiglio, E., Mercure, J.-F., Volz, U. & Edwards, N. R. Low-carbon transition risks for finance. WIREs Clim. Change 12, e678 (2021). This article reviews and categorizes the various channels (such as stranded assets) through which climate change mitigation can impact the financial system.
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This is a summary of: Semieniuk, G. et al. Stranded fossil-fuel assets translate to major losses for investors in advanced economies. Nat. Clim. Change https://doi.org/10.1038/s41558-022-01356-y (2022).
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Fossil-fuel stranded asset risks held by individuals in OECD countries and non-OECD governments. Nat. Clim. Chang. 12, 510–511 (2022). https://doi.org/10.1038/s41558-022-01373-x