As one might imagine, if developments in technology and government policies result in emissions complying with this tighter carbon budget, this renders even more coal, oil and
gas unburnable.
Not exact matches
A new buzz phrase in the push to limit greenhouse
gas emissions is «
unburnable carbon» — an effort to define and then wall off the portion of the world's still - vast reserves of coal, oil or natural
gas that might, if combusted, cause unacceptably costly or dangerous climate change.
Between 60 - 80 % of coal, oil and
gas reserves of publicly listed companies are «
unburnable» if the world is to have a chance of not exceeding global warming of 2 °C
«The majority of proven coal, oil, and
gas reserves may be considered «
unburnable» if global temperature increases are to be limited to two degrees Celsius,» he wrote in a letter to the British parliament's Environmental Audit Committee (PDF) in October, referring to the widely accepted temperature threshold for avoiding the worst effects of climate change.
The report argues that «60 - 80 % of coal, oil and
gas reserves of publicly listed companies are «
unburnable» if the world is to have a chance of not exceeding global warming of 2 °C.»
Following on from Carbon Tracker's
Unburnable Carbon 2013 global analysis, we release this report in collaboration with The Climate Institute assessing the risks facing the Australian coal, oil and
gas sectors.
Mark Carney, the FSB chair stated that a carbon budget consistent with a 2 °C target «would render the vast majority of reserves «stranded» — oil,
gas and coal that will be literally
unburnable without expensive carbon capture technology, which itself alters fossil fuel economics»
In the context of our
Unburnable Carbon 2013 reports and carbon budgets, instinctively it may feel that oil and
gas on this scale must remain in the ground.
Paul Spedding, an oil and
gas analyst at HSBC, said: «The scale of «listed»
unburnable carbon revealed in this report is astonishing.
The results suggest the Middle East holds half of total global
unburnable oil and
gas reserves, with more than 260 billion barrels of oil and nearly 50 trillion cubic metres of
gas needing to remain untouched if we're to stay within budget.
Thirty per cent of known oil and 50 per cent of
gas reserves are
unburnable and drilling in the Arctic is out of the question if we're to stay below two degrees, the new research notes.
Also in January, a scientific analysis published in Nature concluded that 80 % of coal reserves, 50 % of
gas reserves and 33 % of oil reserves were
unburnable if warming is to be limited to 2C.
This «
unburnable» fraction equates to two thirds of the region's
gas and 38 per cent of oil reserves.