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Investors Call out 'Unsustainable' U.K.: Hot off the Griddle

By Eric Roston

Good afternoon, and welcome back to the Griddle, a menu of fortified items for the busy person's media diet. Large institutional investors own a wide cross-section of the global economy. That exposes them to stock swings and economic slumps, but also to risks that fall outside classic investment analysis. These externalities include the largest of them all: climate change. A group of investors yesterday sent a letter to the Bank of England voicing concern that the government has failed to understand the scale of carbon risk. They urged an examination of the exposure of the nation's financial system to companies that rely on carbon emissions, mining or drilling, or other 'environmentally unsustainable' practices. "Regulators are not monitoring the concentration of high-carbon investments in the financial system and have no view on what level would be too high," the authors wrote. It's a shortcoming that's far from unique to the U.K.

And now the this week's best of Bloomberg Sustainability:

Wind-Farm Boom Poised to Bust When U.S. Tax Breaks End
Keystone Pipeline Seen Moving Past Obama Decision With Alternative Route
Electricity Declines 50% as Shale Spurs Natural Gas Glut
Cholera Risk Means Mounting Costs for Overseas Shippers
Rising Labor Costs in China Bring Philips Shavers Home to Netherlands
Climate Change Forces French Corn Farmers to Plant Earlier, Lift Yields
P&G’s CEO Calls Africa ‘Next Frontier’ Amid Philanthropic Effort
Bank of England Urged to Probe 'Unsustainable' Investments
Wildcatter Finds $10 Billion Drilling in North Dakota
U.S. Clean Energy Leadership Is Misleadingly Strong After a Record 2011 
India's Richest Delay Power Plants in Setback for Energy Poverty

-0- Jan/20/2012 23:36 GMT

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