PARIS: Share offerings in fossil fuel producing and related companies lost US$123 billion in the last decade, underperforming a baseline world equities index by 52%, according to an analysis released Wednesday.
“They’re thinking that actually fossil fuel stocks have gotten bombed out, that the bottom is purely cyclical and there’s going to be a recovery post-Covid, that there’s going to be a huge bounce,” he told AFP. It found that an investor who bought into all fossil fuel and related equity issuances from 2012 until 2020 would have seen their investments outperformed by the Acwi by 52%.
Only 1% of the total equity raised by companies during the period analysed came from renewable and clean tech offerings.
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