Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP
Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP

US economist Joseph Stiglitz warns carbon pricing mismatch may trigger next global financial crisis

  • Carbon prices will be much higher than current prices, and fossil fuel assets will come down, imposing enormous amounts of transition risks, says Stiglitz
  • He warns of more severe version of 2008 global financial crisis by pointing out that carbon accounts for bigger piece of global economy than subprime mortgages

Topic |   Business of climate change
Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP
Mehrum coal-fired power plant in Hohenhameln, Germany in January 2020. Photo: dpa via AFP
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