Britain can signal the beginning of the end for coal investment | Ed Davey

We have to face the facts: our vast assets in fossil fuels may become worthless. It's yet another reason to keep it in the ground

For over 200 years, modern civilisation has been built on fossil fuels; now climate science says we must phase out fossil fuel pollution in just a few decades. That's a colossal challenge - especially if we are to keep anything resembling current lifestyles while also ending the poverty that blights the lives of more than 1 billion fellow human beings.

We are already seeing a significant shift in thinking. The Rockefeller Foundation is divesting from coal and tar sands. Oxford University is considering similar action. And the Bank of England is analysing the impact on financial systems of fossil fuel investments becoming "stranded assets" - in other words worthless - if the world gets its act together on climate change.

Related: Ed Davey backs divestment from 'very risky' coal assets

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