Because the value of fossil fuel companies is based on the size of their reserves, it may seem counter-intuitive to see some of these assets as potential risks. But changes in market or economic conditions can make some reserves too expensive to tap, leaving them stranded – and their owners more vulnerable than the size of their reserves would indicate.
This working paper is the first-ever comprehensive global guidance for measuring and reporting the potential greenhouse gas emissions from the fossil fuel reserves held by oil, coal and gas companies. Currently, not a single fossil fuel company reports this data.
A panel of economic experts unveil a set of recommendations to protect investors from a head-in-the-sand approach to global warming's inevitable impacts. That is the recommendation of a blue-ribbon panel convened by the economically powerful Group of 20.
Fossil fuel companies hold vast oil, gas and coal reserves that help determine their market value. These reserves are also the basis to understanding the potential climate risks of burning these fuels. Yet not a single fossil fuel company in the world discloses potential emissions from their reserves – and that is a big problem.
The standard covers the accounting and reporting of seven greenhouse gases covered by the Kyoto Protocol – carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6) and nitrogen trifluoride (NF3). It was updated in 2015 with the Scope 2 Guidance, which allows companies to credibly measure and report emissions from purchased or acquired electricity, steam, heat, and cooling.
The share of coal in global energy consumption is increasing, with most growth occurring in China, the largest coal consumer in the world. In China, coal-fired power plants are responsible for more than 45 percent of total fuel-combustion CO2 emissions.
At a May 29 launch event in Beijing, WRI introduced the GHG Emissions calculation tool for Chinese Coal-Fired Power Plants to an audience of about 100 participants. The tool will enable Chinese power companies to establish a GHG emission inventory of its operations and prepare for GHG emissions management and reduction.
In partnership with China Electricity Council (CEC), WRI developed a greenhouse gas (GHG) calculation tool for Chinese coal-fired power p
