[turc1656]

"In his letter to Carney, dated Feb. 28, Hohn warned that British banks were “highly likely” to suffer losses on coal financing as the cost of renewables continued to fall and regulations on air pollution and carbon emissions tighten."

If that's the case then Hohn shouldn't even need to push this agenda at all. Coal usage would go down dramatically naturally based on market competition from renewables based on his own statement. Either he doesn't believe that, or he does and there's something else going on.

[dharma1]

I think it's mostly to do with timing. What he is highlighting is risk mispricing when it comes to coal loans (that aren't properly disclosed to shareholders of banks). But the effects of this mispricing - and market competition from renewables can take years to play out.

In the meanwhile, climate change doesn't wait - if we want to have any chance of not going beyond widely accepted atmospheric CO2 limits, it's important no new fossil fuel infrastructure is built.