What's the future worth of an ExxonMobil or a Chevron is governments ever get their act together and impose carbon taxes that make burning that dinosaur juice unprofitable? That would transform those fossil fuel reserves into "Stranded assets," turning the billions of dollars spent discovering and securing that untapped oil, natural gas, and coal into liabilities. Bloomberg terminals-those ubiquitous desktop computer screens that everyone from state treasurers to hedge-fund cowboys rely on to make financial decisions-have quietly added a function called the Carbon Risk Valuation Tool, or CRVT in Bloomberg-speak. The CRVT for the first time allows investors to view the impact of say, declining oil prices due to carbon regulations, on companies' stock prices, or how a carbon tax would affect the value of a portfolio. The key will be to what extent and how fast investors adopt carbon risk as a standard part of their financial analysis, says Ryan Salmon, manager of the oil and gas program for Ceres, a Boston-based non-profit that promotes corporate sustainability.
Source: THE ATLANTIC
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