Sentences with phrase «unburnable carbon reserves»

In recent months there has been a renewed look at the idea of a financial carbon bubble, or unburnable carbon reserves.

Not exact matches

Mark Carney, the former Governor of the Bank of Canada who now heads up the Bank of England, legitimized the concept of the carbon bubble by confirming that the «vast majority of [fossil fuel] reserves are unburnable» if we are to avoid dangerous climate disruption.

The Carbon Tracker Initiative, a nonprofit organization that studies carbon budgets, has warned that the remaining vast reserves of unburnable carbon will become stranded assets.

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.

The non-profit financial think tank Carbon Tracker has suggested that if world leaders are serious about keeping the world's temperature from rising above 2 degrees, then much of the world's carbon reserves will be unburnable and forced to stay in the ground, including any drilling in the Arctic.

The combination of needing to limit carbon dioxide emissions and having fossil fuel companies that are valued by their proven reserves is what Carbon Tracker, a non-profit organization, is calling the «Carbon Bubble» in their new report, «Unburnable carbon 2013: Wasted capital and stranded assets.»

Beyond 2050, the total carbon budget is very small for a 2 °C target, which means that reserves will remain unburnable during the second half of the century unless there is a dramatic development of CCS after 2050.

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»

According to Carbon Tracker (PDF), there is a potential that 80 percent of the world's carbon reserves will become unburnable, which — if this situations holds true — would result in a $ 20 trillion write - off in losses by fossil fuel companies.

The report clearly sets out the global carbon budget, the reserves outlook, the current capital flow being consumed to expand those reserves and comes to the additional conclusion that this part of the global energy system will also waste trillions in capex over the coming decade as it develops more reserves that could also become unburnable.