Please check the reference to a report by a climate change mindful group of investers that are worried that the present asset-value of fossil companies is backed by carbon of which we can only burn 20% to stay within the 2 degreed celcius warming limit scientists consider safe.
The concept of overvaluation of carbon is spreading; it is appearing in more papers and other news media. Here is an example in the Duitch (left-wing) news paper “de Volkskrant” on March 27:
A friend gave a nice counterargument on the valuation bubble effect, indicating that if carbon is not supplying for the need for energy something else (sustainable) will. This will probably beat higher market prices, and that in turn will create new value on the stock market; albeit in differt stock. This sounds like solid economic reasoning.