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Filed under: June 2015

Who said what?

There is an old story about the physicist Niels Bohr. Noticing a horseshoe hanging over a door at his home, a visitor asked the Nobel laureate in physics if he believed in luck. “Of course not. But I understand it works whether you believe in it or not.”

It is now widely accepted science that in order to keep the globe from warming more than another 2º C, in other words to avoid the worst case scenarios associated with climate change, then over 80% of fossil fuel reserves will have to remain in the ground. This reality gives rise to the notion of ‘stranded assets’ and a whole new set of risks to evaluate when formulating a long term investment plan, whether you are an individual with a small RRSP, or a public pension fund with hundreds of billions of dollars under management.
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