Mark Carney’s remarks about stranded assists were made specifically directed at the financial sector and that the sector “had not yet woken up to the looming climate crisis and was not moving fast enough to divest from fossil fuels” and how coal and oil reserves are set to become stranded assets.
His comments however, have much wider application than just the financial sector. It is going to be very prudent for all leadership teams regardless of industry to ask two really important questions:
1️⃣ How reliant are we on the burning of fossil fuels to generate revenue? 2️⃣ What immediate steps can we take to de-couple revenue generation for the need to burn fossil fuels?
Every business (or career) that finds a way to “decarbonize” will give itself a fighting chance of surviving whats coming.
Those that don’t will become “stranded assets.”