The world’s first database to track global fossil fuel production, oil and gas reserves and emissions will be launched Monday, according to the Carbon Tracker and Global Energy Monitor.
The Global Registry of Fossil Fuels was built using data for more than 50,000 fields in 89 countries, covering approximately 75% of global reserves, production and emissions. The launch coincides with climate talks taking place at the United Nations General Assembly in New York.
While private data is available for purchase, this database is available for public use, a first for a collection of this size. It differs from public data maintained by the International Energy Agency, which looks at fossil fuel demand, because it keeps track of what remains to be burned.
“With the registry, it will be much easier to include projected future emissions in the analysis, identifying and prioritizing the companies with the greatest risk of harboring assets that are likely to fail,” said Eric Christian Pedersen, head of Responsible Investments at Denmark-based Nordea Asset Management.
Organizations behind database hope for more climate responsibility
The registry was jointly developed by Carbon Tracker, a non-profit think tank that studies the impact of the energy transition on financial markets, and the Global Energy Monitor, which tracks a range of global energy projects.
These organizations hope the registry will enable groups to hold governments accountable in a range of scenarios, such as licensing fossil fuels.
“Civil society citizens need to be more attentive to what governments plan to do in licensing, both for coal and for oil and gas, and actually challenge this licensing process,” said Mark Campanale, founder of Carbon. follower.
The database is being released as two series of climate talks take place at the international level, starting with the UN General Assembly and followed by COP27 in Sharm El Sheikh, Egypt, in November.
As the world urgently needs carbon reduction, crucial data can weaponize environmental and climate groups to pressure national leaders to agree to stronger policies that could lead to reduced carbon emissions.
see/wd (TBEN, Reuters)
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