The fossil fuel industry is facing its day of reckoning – and not just because one of the world’s most prominent religious leaders, Pope Francis, is calling for action . In fact, the industry’s moment of crisis has been in the making for years, as a variety of trends – from rising production costs to cheaper renewable energy and expanding carbon-reducing rules – have taken stronger hold. Today, the fossil fuel monolith is under attack from some of the same people it used to count as its closest friends – Wall Street analysts, investors and governments – because fossil fuels are no longer a safe bet. It has become impossible to ignore the systemic financial risks inherent in the production of coal, oil and other fossil fuels. Perhaps the most glaring, pressing risks are those associated with carbon reserves still in the ground. Better known as “carbon asset risks,” […]