Burning the world’s remaining fossil fuel reserves would emit 3.5 trillion tonnes of greenhouse gases,
seven times the remaining carbon budget to limit global warming to 1.5 degrees Celsius, according to the first public hydrocarbon inventory released on Monday.
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Since the Industrial Revolution, fueled primarily by coal, oil and gas, human activity has warmed less than 1.2 degrees Celsius, resulting in increasingly severe droughts, floods and storms, and overload from rising sea levels.
Kurulus Osman
The United Nations estimates that the Earth’s remaining carbon budget (how much more pollution can be added to the atmosphere before reaching the Paris Agreement’s 1.5 degrees Celsius target) is about 360 billion tonnes of CO2 equivalent, or nine years.
there is. Current emission level. According to the UN’s annual production gap assessment last year, the government plans to burn more than double the fossil fuels in the world at 1.5 degrees Celsius by 2030. However, so far there has been no complete global inventory of the country’s remaining reserves.
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The Global Fossil Fuels Registry provides clearer insights into oil, gas and coal reserves, filling the knowledge gap in global supply and helping policy makers better manage their removals.
In more than 50,000 fields in 89 countries, we found that only a few countries had enough carbon-bearing reserves to cover the entire global carbon budget.
For example, US coal reserves contain the equivalent of 520 billion tonnes of CO2. China, Russia and Australia have enough reserves to lose 1.5 degrees Celsius.
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Overall, the remaining fossil fuel reserves contain seven times the carbon budgeted emissions for 1.5 degrees Celsius. “We have little time to deal with the remaining carbon budget,” said Rebecca Byrnes, deputy director of the Fossil Fuel Non-Proliferation Treaty, who helped create the registry.
Transparency, Responsibility The registry contains emissions data for individual oil, gas, or coal projects. Of the 50,000 oil fields included, the strongest source is Saudi Arabia’s Gawar oil field, which produces about 525 million tonnes of carbon emissions annually.
According to the database, the top 12 polluted areas were all in the Gulf or Russia. Byrnes said inventories could help put pressure on investors in countries with high hydrocarbon reserves, but saw little prospects of public pressure to move away from fossil fuels.
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“This is a global challenge and shows where transparency is needed in many countries that are large producers that are not as democratic as the United States,” he told AFP.
The inventory also highlighted the wide volatility in carbon prices across countries, where the tax on emissions is nearly $100 per tonne in Iraq, but only $5 per tonne in the UK.
Tuvalu’s foreign minister, Simon Kofe, said the database would
“help effectively shut down coal, oil and gas production”.
“It will help governments, businesses and investors make decisions
about fossil fuel production in line with the 1.5 degree Celsius temperature limit.
This will specifically prevent the death of our island families and every nation in the global village.”
