World’s first public database on fossil fuels launched | Fossil Fuels News

Climate campaigners have launched the world’s first registry of fossil fuel reserves, production and emissions.

In a statement on Monday, Carbon Tracker and Global Energy Monitor said the registry is the “fully transparent” and “first public” database tracking fossil fuel production worldwide. .

Dubbed the Global Fossil Fuel Registry, the inventory includes data from more than 50,000 oil, gas and coal fields in 89 countries, accounting for 75% of global production. It also makes publicly available data that is different or otherwise difficult to access, including to investors, experts, and activists.

Mark Campanale, founder of Carbon Tracker, told the AP news agency he hopes the registry will empower groups to hold governments accountable, for example when they issue permits to mine fossil fuels.

“Civil society groups have to focus more on what the government is planning to do in regards to licensing, for both coal and oil and gas, and really start challenging the licensing process,” says Campanale. this permission.

The release of the database and the analysis accompanying the collected data has been scheduled to coincide with two important climate negotiating groups at the international level – the United Nations General Assembly in New York begins on September 13 and COP27 in Sharm El. Sheikh, Egypt, will take place in November.

In their data analysis, Carbon Tracker and Global Energy Monitor found that the United States and Russia have enough fossil fuels still underground and untapped to deplete the world’s remaining carbon budget, a term that refers to the amount of remaining carbon the world can afford to emit. before a certain amount of warming occurs, in this case 1.5 degrees Celsius.

It also shows that these reserves will generate 3.5 trillion tons of greenhouse gas emissions, more than all emissions produced since the Industrial Revolution.

“We already have enough extractable fossil fuels to cook the planet. We can’t afford to use all – or almost any of them at this time. “We are running out of time to build new things in old ways,” said Rob Jackson, a Stanford University climate scientist who was not involved with the database.

“I like the emphasis on transparency in fossil fuel production and storage, down to specific projects. It’s a unique aspect of the piece,” he said.

The Global Energy Monitor says the registry has collated data from sources including government, public and private companies, news and media reports, NGOs and stakeholders. fact systems provide direct information about a project.

Of the 50,000 fields included, the strongest emitter is the Ghawar oil field in Saudi Arabia, which emits about 525 million tonnes of carbon emissions each year, according to the analysis. The top 12 polluting sites are all in the Gulf or Russia, it added.

“We have very little time to tackle the remaining carbon budget,” said Rebecca Byrnes, Deputy Director of the Fossil Fuel Non-Proliferation Treaty, who helped compile the register. “As long as we don’t measure what’s being produced, it’s hard to measure or adjust that output,” she told AFP news agency.

The database, she said, could also help pressure investors in countries with large hydrocarbon reserves but little prospect of widespread pressure to transition away from fossil fuels.

“We are not kidding ourselves that the registry will lead to a massive regulatory regime on fossil fuels overnight,” she said. “But it does shed light on where fossil fuel production is going so that investors and other actors hold their governments accountable.”

Eric Christian Pederson, Head of Responsible Investment at Nordea Asset Management, told Reuters that the registry can help investors trying to better understand which assets may be at uneconomical or risk. gets “stuck” in the low-energy transition.

“It’s been a huge help to have all this information, cross-referenced and searchable at our fingertips. Not least to help us target and refine our engagement and topic management,” says Pederson. “With the Registry, it is much easier to include projected future emissions in the analysis – and thus identify and prioritize companies with the greatest risk of harboring assets. property is likely to be trapped.”

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