More than 80 per cent of the world's known
coal reserves need to stay in the ground to avoid dangerous climate change, according to new research.
Under a 2 - degree scenario, Citigroup says about one - third of oil reserves, half of natural gas reserves, and 80 per cent of
coal reserves need to stay in the ground.
To stay below that threshold, Citigroup estimates that one - third of oil reserves, half of natural gas reserves, and 80 per cent of
coal reserves need to stay in the ground.
Not exact matches
And there's little doubt that it's
needed, according to a report from the Massachusetts Institute of Technology: developing countries like China and India will burn their
coal reserves to power industry and alleviate poverty so developing cleaner ways to use it will be a global imperative.
In a speech before the World
Coal Association, which also held a conference in Warsaw this week, Figueres did take a hard line that squares with the IPCC's carbon budget when she told coal industry representatives that they will need to leave most coal reserves in the ground unless the industry comes up with ways to capture and store CO2 at every operational pl
Coal Association, which also held a conference in Warsaw this week, Figueres did take a hard line that squares with the IPCC's carbon budget when she told
coal industry representatives that they will need to leave most coal reserves in the ground unless the industry comes up with ways to capture and store CO2 at every operational pl
coal industry representatives that they will
need to leave most
coal reserves in the ground unless the industry comes up with ways to capture and store CO2 at every operational pl
coal reserves in the ground unless the industry comes up with ways to capture and store CO2 at every operational plant.
But the committee said more research was
needed to find better ways to mine
coal, to estimate
reserves and to store carbon dioxide captured from plants.
Shareholder action can be an effective tool to make small reforms at a company — such as pressuring Apple to institute better labour practices at the factories it works with in China — but it won't achieve the fundamental changes to the business model of the fossil fuel industry
needed: keeping their
coal, oil and gas
reserves in the ground.
At present, the energy
needed to facilitate this rapidly growing economy is derived primarily from
coal and other fossil fuels, of which China has significant national
reserves.
To avoid blackouts governments and / or consumers are forced to fund diesel, gas or
coal plants to remain on standby or as spinning
reserves until
needed.
It's also worth noting that old definitions of
reserves need to be treated with caution - I think kagiso mentioned
coal basin resources versus economically recoverable
reserves.
We
need a global programme whose purpose is to leave most
coal and oil and gas
reserves in the ground, while developing new sources of power and reducing the amazing amount of energy we waste.
McKibben closes his case by highlighting research by the Carbon Tracker Initiative which reports that burning the total amount of
coal, oil and gas
reserves currently held by fossil fuel companies would release five times the amount of carbon
needed to stay under the two - degree threshold.
We
need to stop using them long before they run out: particularly, before the worldâ $ ™ s massive
reserves of
coal and unconventional fossil fuels are tapped.
«Our commitment to clean is matched by a commitment to keep energy costs affordable and to protect our security by using our abundant domestic
coal reserves to meet America's growing energy
needs.»
Coal reserves are also distinguished by mining method, depending upon whether they can be mined from the surface or
need to be mined underground.
, ranks the largest publicly listed companies by the carbon intensity of their
coal, oil, and gas
reserves; the Clean200 ranks the largest publicly listed companies by their total clean energy revenues, with a few additional screens to help ensure the companies are indeed building the infrastructure and services
needed for what Lester Brown and many others have called «The Great Energy Transition» in a just and equitable way.
«For us, the science is really clear; we
need to keep 80 percent of the world's gas, oil and
coal reserves within the ground if we are going to have any chance of keeping the rise in climate to within 2degC, so we think divesting from fossil fuels is very much a pertinent issue of the age, and we
need to start acting now.