For years, the concept of “stranded assets” seemed largely hypothetical and abstract, a far-off concern of climate advocates and progressive investors that climate change could obliterate trillions of dollars of corporate value, if not turn assets into liabilities.
As with so many climate-related topics, the hypothetical is rapidly turning into the hypercritical. Along the way, there is growing significance for our environmental and economic well-being. Unfortunately, Big Oil seems asleep at the switch.
First, a little definition: A stranded asset is something — a piece of equipment or a resource,