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Opinion
Mark Buchanan

High Fossil Fuel Valuations Are a Political Weapon

Despite some talk of “stranded assets,” oil, coal and gas investors have helped create a sense of futility about tackling climate change.

A series of grass fires broke out around London amid an intense heatwave in July 2022. 

A series of grass fires broke out around London amid an intense heatwave in July 2022. 

Photographer: Leon Neal/Getty Images

In France this week, temperatures reached 108 degrees Fahrenheit, some 36 degrees above the seasonal average. London hit 104, breaking a record set in 2019. Meanwhile, extreme wildfires are raging across France, Spain, Portugal, Greece, Turkey and a dozen US states.

Global warming is no longer a problem of the future. It’s here, and its consequences are rapidly getting worse.