[dharma1]

I think it's mostly to do with timing. What he is highlighting is risk mispricing when it comes to coal loans (that aren't properly disclosed to shareholders of banks). But the effects of this mispricing - and market competition from renewables can take years to play out.

In the meanwhile, climate change doesn't wait - if we want to have any chance of not going beyond widely accepted atmospheric CO2 limits, it's important no new fossil fuel infrastructure is built.