Mark Fulton, a former investment banker turned climate change adviser, claims that the world risks building 412bn’ worth of uneconomic fossil fuel projects over the next ten years because of measures to limit global warming. Fulton is the lead author of a report by London-based environmental think tank Carbon Tracker, which has warned there are $2.2tn in potentially unviable coal, gas and oil projects globally. The report states that the US has the greatest exposure to the fossil fuels industry with $trillions of dollars in unnecessary future projects while Australia's potentially uneconomic developments are worth $103bn.
Mark Fulton, a former investment banker turned climate change adviser, claims that the world risks building trillions of dollars’ worth of uneconomic fossil fuel projects over the next ten years because of measures to limit global warming. Fulton is the lead author of a report by London-based environmental think tank Carbon Tracker, which has warned there are $2.2tn in potentially unviable coal, gas and oil projects globally. The report states that the US has the greatest exposure to the fossil fuels industry with $412bn in unnecessary future projects while Australia's potentially uneconomic developments are worth $103bn.