Unburnable Carbon: the London Stock Exchange and its love-in with the fossil fuel industry

This was the first talk in the Smith School’s ‘Gorillas in our Midst’ Seminar Series, in Michaelmas Term 2011; and was given by Mark Campanale (Carbon Tracker) on Wednesday 12 October 2011.

Mark Campanale Seminar Slides

Unburnable Carbon Report July 2011

Seminar Summary: Rockefeller Brothers, Growald Family Trust and the Joseph Rowntree Charitable Trust have funded research to investigate whether the world’s capital markets, primarily the stock exchanges of New York, London, Moscow and Sydney – have allowed to be listed there far more fossil fuel reserves than can be burnt, for us to stay below 2 degrees warming.  The report discovers that the capital markets are becoming more fossil fuel intense, not less.  For example in London, some 70% of the new IPO’s in 2011 are mining related, typically coal & oil. The report is just launched here: http://www.carbontracker.org/carbonbubble

Speaker Biography: Mark Campanale has nearly twenty years experience in sustainable financial markets. His area of interest is in the finance of clean tech companies, sustainable asset management and the finance of high social impact businesses.  Recruited as one of the City’s first sustainable investment analysts in 1989, Mark is a co-founder of the sustainable investment businesses firstly at Jupiter Asset Management with the Ecology Funds (1989-1994); NPI with Global Care Funds (1994-1999); AMP Capital with the Sustainable Future Funds (2000-2001) and Henderson Global Investors with the Industries of the Future Fund (1999-2006), whose funds as a group now amount to some £2.5 billion of assets.  Mark is a founder director of UKSIF, the UK Sustainable & Responsible Investment Forum (1990-2008), he served on the World Business Council for Sustainable Development working group on capital markets leading up to the 1992 Earth Summit; was a Member of the Steering Committee of UNEP Financial Sector Initiative (1999-2003), Advisory Board member of 3iG, the International Interfaith Investment Group; Treasurer of the Rainforest Foundation (UK); Advisor to Halloran Philanthropies; and is founder Director of The Social Stock Exchange, funded by the Rockefeller Foundation.  Mark is a member of the UK Advisory Council for GIIN, the Global Impact Investing Network; Advisory Board of ImpactBase.org; and is founder and director of Investor Watch: Carbon Tracker.