Potential financial losses from a renewable energy transition are concentrated among the wealthy
“3.5 percent of financial losses would affect the poorest half of Americans… However, because their overall net wealth (assets minus liabilities) is significantly lower, researchers estimate that these losses could be compensated for $9 billion in Europe and $12 billion in the United States.”
[COMMENTARY] Estimates concerning the losses on fossil-fuel-stranded assets are of course hypothetical. However, most authoritative fossil-fuel-based energy predictions say that fossil fuels will be around a lot longer than most of us would like. Hence, asset losses due to fossil-fuel-stranded assets might be substantially less than is likely calculated in this study.
Potential financial losses from a renewable energy transition are concentrated among the wealthy, by Gregor Semieniuk et al, June 22, 2023, Joule, USA.