Stranded assets a long-term risk for major fossil fuel exporters: Fitch

Fossil fuel exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades, Fitch Ratings has said in a new report. For the most-exposed sovereigns and those that do not adequately prepare for it, climate change strandedasset risk is likely to lead to rating downgrades as the effects become clearer, closer and more material.