Shift from fossil fuels may pop ‘bubble’

LIMA: The transition from fossil fuels must be carefully managed to avoid an economically disastrous bursting of the “carbon bubble,” the World Bank’s top climate official said on Saturday.

Decades of reliance on oil, gas and coal have made them central to the global economy, and polluting industries risk a potentially catastrophic crash as the world shifts to alternative energies, said Rachel Kyte, the Bank’s special envoy for climate change.