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Al Gore Sees ‘Subprime Carbon Bubble’ With $22 Trillion Tag

Al Gore during the COP26 climate summit in Glasgow, U.K., on Nov. 2. — Al Gore during the COP26 climate summit in Glasgow, U.K., on Nov. 2.
Photographer: Oli Scarff/AFP/Getty Images

By

Tasneem Hanfi Brögger

November 3, 2021, 12:26 PM UTCUpdated onNovember 3, 2021, 1:44 PM UTC

Al Gore, the former vice president of the U.S. and the chairman of Generation Investment Management LLP, said the world is witnessing a sustainability revolution and warned that investors caught on the wrong side of history will face losses.

“We now have a subprime carbon bubble of $22 trillion, based on an absurd assumption that all of those carbon fuels are going to be burned,” Gore said in an interview Wednesday with Bloomberg Television’s Francine Lacqua. “They’re not going to be, especially because the new renewable sources of electricity are much cheaper now.”