What Happens If We ‘Burn All The Carbon’? Carbon Reserves, Carbon Budgets, And Policy Options For Governments
Authors
Kevin M. A. Parker and Michael R. Mainelli
Royal Society Of Chemistry
Report Date
Jan. 21, 2024
Document summary
Estimates show that ‘proven reserves’ of fossil fuels in 2022, would generate an estimated 4777 Gt of CO2 after allowing for non-fuel uses. This quantity already could ‘bust CO2 budgets’ for IPCC RCP2.6, RCP4.5, and RCP6.0 and is approaching the range for RCP8.5. Notwithstanding these results, fossil fuel companies are still exploring and bringing new reserves onstream. The authors discuss the reasons behind this, and propose some policy options for governments as they address this situation.
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