What's New :

Global Registry of Fossil Fuels

  • Category
    Environment
  • Published
    23rd Sep, 2022

Context

A first-of-its-kind database for tracking the world’s fossil fuel production, reserves and emissions launched recently to coincide with climate talks taking place at the United Nations General Assembly in New York.

About

About Global Registry of Fossil Fuels:

The registry is developed by

  • Carbon Tracker, a non-profit think tank that researches the energy transition’s effect on financial markets, and
  • Global Energy Monitor, an organization that tracks a variety of energy projects around the globe.
  • The Global Registry of Fossil Fuels is an open, transparent repository of data on fossil fuel production worldwide, expressed in terms of its embedded carbon dioxide emissions.

Important features of the Registry:

  • Aggregates data into a comprehensive open-source database, drawing from government and private-sector sources
  • Includes both country-level and project level data
  • Integrates reserves, production, and emissions data with third-party scenarios to provide essential data for policymakers and others to make 1.5°C aligned production decisions;
  • Includes life-cycle emissions from fossil fuel projects for both carbon dioxide and methane
  • Contains data for over 50,000 fields in 89 countries representing projects covering 75% of global production.
  • Ranks countries based on absolute emissions and emissions intensities
  • Establishes an evolving database to serve as a trusted, policy-neutral tool to manage carbon budgets.

The earlier system

  • Until now there has been private data available for purchase, and analysis of the world’s fossil fuel usage and reserves.
  • The International Energy Agency also maintains public data on oil, gas and coal, but it focuses on the demand for those fossil fuels, whereas this new database looks at what is yet to be burned. 

Carbon budget:

  • Carbon budget refers to the remaining carbon the world can afford to emit before the 1.5°C temperature goal of the Paris Agreement is missed.
  • According to the estimates of the United Nations, the Earth’s remaining carbon budget is around 360 billion tonnes of CO2 equivalent or nine years at the current emission levels.

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