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Low-carbon transition, stranded assets, financial stability, and the role of central banks

In: The Elgar Companion to Energy and Sustainability

Author

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  • Louison Cahen-Fourot

Abstract

This chapter reviews the nexus between the low-carbon transition, stranding risk, financial instability, and the role of central banks. It provides an overview of stranding risk estimates of productive and financial assets and discusses the significance of these estimates. Stranding risks must be assessed considering their relevance in terms of total capital stock but also in relation to the geographical distribution of losses and the nature of owners involved in such losses, e.g., states vs. private owners. Additionally, the chapter links the discussion on stranded assets to the role of central banks as they have an important stabilizing role in enhancing states’ financial ability to tackle asset stranding and losses in fossil fuel revenues. Normative approaches to the role of central banks in the context of the ecological crisis are surveyed.

Suggested Citation

  • Louison Cahen-Fourot, 2024. "Low-carbon transition, stranded assets, financial stability, and the role of central banks," Chapters, in: Catalina Spataru & Xiaojing Lv & Priscila Carvalho & Manta Devi Nowbuth & Nadia Ameli (ed.), The Elgar Companion to Energy and Sustainability, chapter 24, pages 372-383, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22102_24
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035307494.00035
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