Open AccessStranded Assets: Environmental Drivers, Societal Challenges, and Supervisory Responses
Author(s) -
Ben Caldecott,
Alex Clark,
Krister Koskelo,
Ellie Mulholland,
Conor Hickey
Publication year - 2021
Publication title -
annual review of environment and resources
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.01
H-Index - 115
eISSN - 1545-2050
pISSN - 1543-5938
DOI - 10.1146/annurev-environ-012220-101430
Subject(s) - business , climate change , asset (computer security) , biodiversity , emerging markets , financial sector , environmental resource management , natural resource economics , environmental planning , finance , economics , geography , ecology , computer security , computer science , biology
Environmental factors, particularly those related to climate change, are stranding or could strand assets across different sectors and geographies with significant implications for economies, companies, financial institutions, communities, and workers. In this review, we focus on physical climate change, biodiversity loss, and litigation related to environmental factors as causes of stranded assets. We also review the emerging literature on the consequences of asset stranding for society before turning to some of the key supervisory responses that are emerging to ensure that stranded assets are measured and managed, particularly by financial institutions. These are among the areas of the stranded assets literature that have been growing most rapidly since 2015, and we focus on the literature produced since then.