Fossil fuel stocks lost $120 billion in last decade: Analysis
Share offerings in fossil fuel producing and related companies lost $123 billion in the last decade, underperforming a baseline world equities index by 52 per cent, according to analysis released Wednesday.
The trend was in stark contrast to gains made in renewable energy initial public offerings (IPOs), according to the analysis by industry think tank Carbon Tracker, which lays bare the yawning losses faced by investors in high-carbon energy.
Issuance of fossil fuel offerings fell by 85 per cent from $70 billion to $10 billion in the period analysed from 2012-2020.
This contrasted with a record $11 billion in renewable public equity offerings, it found.
