Do Promises Towards Fossil Fuel Owners Matter?

Abstract

While the energy transition is needed more than ever, for some agents it brings significant losses. This article investigates whether fossil fuel owners could refer to promises to avoid having their assets stranded. It explains how authors, in the context of just transitions, have argued for the normative relevance of Rawlsian legitimate expectations, which refer to promissory entitlements. However, it argues that the normative relevance of promises towards fossil fuel owners is limited, because there are only few promises about what will be permissible in the future and because these promises should be just before they can lead to entitlements.