Sovereign debt at greater risk of being ‘stranded’
The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.
Although many market participants have focused on the impact of the transition to a less carbon-intensive economy on debt issued by oil companies, the research notes that the vast majority of oil and gas assets are controlled by sovereign states.The idea that the debt and equity of ...
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