EZB-Präsident Mario Draghi sagt Reinhard Bütikofer, Sven Giegold und dem Europäischen Parlament zu, dass er bald den Europäischen Systemrisikorat (ESRB) beauftragen wird, sich um das Problem der CO2-Spekulationsblase zu kümmern. Dazu hatten wir ihn gemeinsam angeschrieben. Das ist ein schöner Erfolg für den Klimaschutz. Denn in den Bilanzen vieler Unternehmen finden sich Vermögenswerte, deren angesetzter Wert von der Annahme ausgeht, dass echtes Handeln gegen den Klimawandel unterbleibt. So sind Kohlekraftwerke, Öl-, Gas- und andere Schürfrechte überbewertet. Wenn die Weltgemeinschaft endlich mit dem Klimaschutz ernst machte, wären die Investitionen und Arbeitsplätze in diesen Unternehmen gefährdet. Daher ist gut, wenn sich nun der ESRB damit befasst!
Hier die Antwort von Mario Draghi als pdf: Buetikofer-Giegold ESRB reply
Und als Text:
Mr Reinhard Bütikofer
Mr Sven Giegold
Members of the European Parliament
Groups of the Green/European Free Alliance
60, rue Wiertz/Wiertzstraat 60
Dear Mr Bütikofer, dear Mr Giegold, dear Members of the European Parliament,
I would like to thank you for your letter of 9 December 2014 which highlights your concerns on the long-term sustainability of investment involving fossil fuels reserves. I am aware of the increasing attention which this issue is encountering among environmental economists and the public at large.
As you probably know, the ESRB discussed this issue in early 2012, following a collective letter I recieved from high level representatives of the financial sector, members of academia, environmentalists and other stakeholders.
I agree with your suggestion to submit the issue to the new Advisory Scientific Committee, which is being nominated. As soon as the new Chair and Vice-Chairs will have been named, I will be in contact with them to make sure they would address the concerns you raised.
Hier der ursprüngliche Brief an Mario Draghi
President Mario Draghi
European Central Bank
Brussels, 9 December 2014
Dear President Draghi,
We are writing this letter with regards to the growing concern of a potential risk for an EU financial carbon bubble.
As the European Systemic Risk Board (ESRB) develops its 2015 annual report, we urge it to investigate how the exposure to high carbon investments might pose a systemic risk to our financial system and what the options might be for managing this potential threat to our economic security.
If we are serious about limiting global warming to 2 degrees Celsius, the majority of fossil fuel reserves must be kept firmly in the ground, which would turn them into stranded financial assets. McKinsey and the Carbon Trust have calculated that this could endanger more than 30-40% of company value. This could therefore have significant consequences for our financial system.
This so-called carbon bubble has been recognized by a variety of financial stakeholders. In October of this year, for example, your colleague Mark Carney, Governor of the Bank of England, stated that the vast majority of oil reserves must be considered unburnable if the world is to avoid catastrophic climate change.
In this context and with the background of the upcoming major climate conference in Paris in 2015, we ask you to look into this issue and dedicate a special chapter in the next ESRB annual report focusing on the potential systemic risks of a carbon bubble to the European financial system and identifying pathways for mitigating this risk. Given its significance over the long term, we hope that the ESRB can incorporate this research into its future work, with the appropriate expertise and personnel and kindly ask you to also request in your quality of ESRB President, and in conformity with article 12.3 of Regulation (EU) No 1092/2010, specific advice from the ESRB Advisory Scientific Committee on that matter.
We look forward to hearing from you in due course.
Reinhard Bütikofer Sven Giegold