WASHINGTON (dpa-AFX) - The embedded carbon emissions from the oil, gas, and coal in currently operating fields and mines, if they run to the end of their projected lifetimes, will take the world just beyond the threshold for dangerous climate change, a new study has found.
The study scientifically grounds the growing movement to keep carbon in the ground by stopping all new fossil fuel infrastructure and industry expansion.
The analysis, 'The Sky's Limit,' was released Thursday by Oil Change International, the day after world leaders from over 30 countries gathered in New York to ratify the Paris Agreement, speeding up its now-certain entry into force.
It focuses on the potential carbon emissions from developed reserves - where the wells are already drilled, the pits dug, and the pipelines, processing facilities, railways, and export terminals constructed. The report uses industry data from Rystad Energy, a leading oil and gas consultancy, and compares it against carbon budgets derived from the Intergovernmental Panel on Climate Change (IPCC).
Developed reserves of oil and gas alone, even if coal were phased out immediately, would take the world beyond 1.5°C warming limit, the study says.
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