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Shares in hibu have been left worthless after being suspended in July when the company finally collapsed under £2.3 billion of debt.
Ivan Glasenberg, the billionaire chief executive of Glencore Xstrata, dismissed concerns that any of its 4.3bn tonnes of coal reserves could be left worthless – or 'stranded' – by international action to cut greenhouse gases.
Fossil fuel companies risk wasting up to $2tn£1.3tntn) of investors' money in the next decade on projects left worthless by global action on climate change and the surge in clean energy, according to a new report.
Many authoritative voices, such as the heads of the World Bank, Jim Yong Kim, and the Bank of England, Mark Carney, have warned that many fossil fuel reserves could be left worthless by action on climate change.
Furthermore, authorities such as the World Bank and Bank of England have warned that fossil fuel reserves will be left worthless if the action needed to cut carbon emissions kicks in.
Glasenberg recently dismissed concerns that any of Glencore's huge reserves of coal would be left worthless by international climate change action to cut greenhouse gases, saying he did not believe governments would act in the face of growing demand for cheap energy.
Similar(51)
Western ex-pats also found their investments worthless or saddled with huge mortgages, and some left.
But a left-handed specialist who does not throw strikes is practically worthless to a manager.
Absolutely worthless.
Probably worthless.
But worthless?
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CEO of Professional Science Editing for Scientists @ prosciediting.com