Katerina Swanson
The Global Registry of Fossil Fuels is a database that provides information on the carbon dioxide emissions associated with each country's fossil fuel production and reserves. It covers 99% of fossil fuel production, with data from 139 countries. The database found that burning the world's remaining fossil fuel reserves would release 3.5 trillion tonnes of greenhouse gas emissions, far exceeding the carbon budget necessary to limit global warming to 1.5°C, as outlined in the Paris Agreement. This highlights the need to address the supply of fossil fuels and transition to alternative energy sources to combat the climate crisis effectively.
| Characteristics | Values |
|---|---|
| Amount of CO2 in fossil fuel reserves | 3.5 trillion tonnes |
| Amount of CO2 in US coal reserves | 520 billion tonnes |
| Number of countries with fossil fuel reserves | 89 |
| Number of countries with fossil fuel production | 139 |
| Number of fields with fossil fuel reserves | 50,000 |
| Number of years of coal reserves in China | 37 |
| Number of years of coal reserves in Indonesia | 63 |
| Number of years of coal reserves in India | 147 |
| Number of years of coal reserves in Australia | 315 |
| Number of years of coal reserves in the US | Over 500 |
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What You'll Learn
Fossil fuel reserves contain 3.5 trillion tonnes of CO2
The 3.5 trillion tonnes of CO2 in fossil fuel reserves is in addition to the carbon already in the Earth's atmosphere and other carbon reservoirs. The largest carbon reservoir is the ocean, followed by geological reserves of fossil fuels, the terrestrial surface (plants and soil), and the atmosphere. The carbon cycle, a natural process, moves carbon between these reservoirs. However, human activity, particularly the burning of fossil fuels, has disrupted this cycle. Since the Industrial Revolution, carbon dioxide concentrations in the atmosphere have risen from about 280 parts per million to 387 parts per million, a 39% increase. This has resulted in a strengthening of the greenhouse effect, leading to fiercer droughts, floods, and storms.
The Global Registry of Fossil Fuels found that some countries' reserves contain enough carbon to exceed the entire world's carbon budget. For example, US coal reserves embed 520 billion tonnes of CO2 equivalent. China, Russia, and Australia all hold enough reserves to exceed the 1.5C temperature goal of the Paris Agreement. The remaining fossil fuel reserves contain seven times the emissions of the carbon budget for 1.5C. This highlights the urgency of addressing the climate crisis through managing the supply of fossil fuels and implementing demand-side measures.
The Global Registry of Fossil Fuels is a valuable tool for policymakers, investors, and researchers. It sheds light on the scale of CO2 emissions associated with each country's national reserves and production, enabling informed decisions to align fossil fuel production with climate targets. The registry can also help apply investor pressure in countries with large hydrocarbon reserves but little prospect of shifting away from fossil fuels. By increasing transparency in fossil fuel production, the registry aims to improve understanding of extraction impacts on the remaining carbon budget.
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The Global Registry of Fossil Fuels
The Global Registry aggregates data from thousands of government and corporate sources worldwide, from the global level down to individual projects. All fossil fuel figures are expressed in terms of their carbon dioxide equivalents. The Registry includes data on oil, gas, and coal reserves to fill knowledge gaps about the global supply and help policymakers better manage their phase-outs. It contains more than 50,000 fields across 89 countries, and found that some countries alone held reserves containing enough carbon to exceed the entire world's carbon budget. For example, US coal reserves embed 520 billion tonnes of CO2 equivalent, and China, Russia, and Australia all hold enough reserves to exceed the 1.5C carbon budget.
The Global Registry seeks to increase the transparency of fossil fuel production and improve understanding of extraction impacts on the remaining carbon budget. By shedding light on fossil fuel production, the Registry enables investors and other actors to hold governments accountable. It also helps policymakers, investors, and others make informed decisions to align fossil fuel production with 1.5°C targets and provides researchers with data for timely analysis.
The indicative chart of the Global Registry shows when current and future paths of emissions from fossil fuel production might exhaust various carbon budgets set out by the IPCC. It also provides an application that matches proven reserves in producing countries with potential future production scenarios, examining the "reserves" overhang – the mismatch between carbon budgets and production plans – at the country level.
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The carbon cycle
Most of Earth's carbon is stored in rocks and sediments, with the rest located in the ocean, atmosphere, and living organisms. These are the reservoirs through which carbon cycles. Carbon dioxide (CO2) is an important part of our atmosphere, where it helps to control the Earth's temperature. As a greenhouse gas, it traps heat in the atmosphere.
Carbon moves from one storage reservoir to another through various mechanisms. For example, in the food chain, plants move carbon from the atmosphere into the biosphere through photosynthesis. Animals that eat plants digest the sugar molecules to get energy for their bodies. Respiration, excretion, and decomposition release the carbon back into the atmosphere or soil, continuing the cycle.
The ocean plays a critical role in carbon storage, holding about 50 times more carbon than the atmosphere. Carbon dioxide dissolves in and ventilates out of the ocean in a steady exchange with the atmosphere. This process makes the ocean more acidic, which interferes with the ability of marine organisms to build shells and skeletons. The ocean absorbs much of the carbon dioxide released from burning fossil fuels, and over millennia, it will absorb up to 85% of the extra carbon put into the atmosphere by human activities.
Human activities have a significant impact on the carbon cycle. Burning fossil fuels, changing land use, and using limestone to make concrete transfer large amounts of carbon into the atmosphere. As a result, carbon dioxide concentrations are rising, leading to global warming and climate change.
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The top 12 polluting sites
Burning fossil fuels is the largest source of greenhouse gas emissions from human activities. Fossil fuels include coal, natural gas, and petroleum, which is used for gasoline and diesel. The top polluting sites are those that are responsible for the highest carbon dioxide emissions from fossil fuels. Here is a list of the top 12 polluting sites:
- China: Chinese entities contributed to 17.3% of global fossil fuel and cement CO2 emissions in 2023, with coal being the largest source.
- The United States: The US is the second-largest emitter of greenhouse gases, with fossil fuel combustion being the source of about 74% of its total human-caused greenhouse gas emissions in 2022.
- India: India is the third-largest polluter, and its emissions have been increasing due to a growing economy and a reliance on fossil fuels.
- Saudi Aramco: If it were a country, this company would be the fourth-largest polluter.
- ExxonMobil, Chevron, Shell, TotalEnergies, and BP: These five publicly traded oil companies together accounted for 5% of global carbon dioxide emissions from fossil fuels in 2023.
- Transportation Sector: This sector is the largest source of direct greenhouse gas emissions, primarily from burning fossil fuels for cars, trucks, ships, trains, and planes.
- Industrial Sector: Greenhouse gas emissions from industry primarily come from burning fossil fuels for energy and certain chemical reactions.
- Commercial and Residential Sector: This sector includes emissions from burning fossil fuels for heat and using gases for refrigeration and cooling in buildings.
- Power Sector: The power sector, which includes electricity production, is a significant contributor to emissions, with 60% of electricity coming from burning fossil fuels in 2022.
- Agriculture: Agriculture and livestock contribute to greenhouse gas emissions, mainly from the cultivation of crops and livestock management.
- Deforestation: Clearing forests releases stored carbon dioxide into the atmosphere and is a significant contributor to emissions.
- Natural Gas Consumption: While natural gas emissions decreased by 3.7% from 2022 to 2023, it still contributes to emissions and is a significant source of industrial sector CO2 emissions.
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Country-level fossil fuel reserves
Fossil fuels have been a fundamental driver of technological, social, and economic development. Oil, coal, and natural gas are the three most common fossil fuels. However, with rising concerns about climate change, reliance on these fuels will decrease over time.
The distribution of fossil fuel reserves varies across the world, with some countries possessing more abundant reserves than others. Here is a breakdown of fossil fuel reserves in different countries:
- Venezuela: Venezuela boasts the largest oil reserves globally, yet it is only the 12th biggest producer.
- United States: The US is the top producer of fossil fuels, particularly natural gas, with a 20% share of global production. It also has significant proven gas reserves due to shale gas development.
- Russia: Russia is a significant producer of natural gas, holding a 17.3% share of global production.
- Canada: Canada is one of the largest energy producers, with substantial oil and natural gas reserves. The development of oil sands has boosted its position in the energy sector.
- China: China's energy mix is gradually shifting away from coal, but its rapid economic growth has maintained coal use in absolute terms.
- Australia: Australia is a net hydrocarbon exporter, with lucrative fossil fuel reserves. It exports over 70% of its total energy production and is attractive to foreign investment.
- Algeria: Algeria is Africa's largest natural gas producer and the second-largest oil producer on the continent.
- Turkmenistan: Turkmenistan possesses extensive natural gas reserves, but its development has been hindered by insufficient pipeline infrastructure.
The Global Registry of Fossil Fuels provides a comprehensive database of fossil fuel production and reserves, covering 139 fossil fuel-producing countries and 99% of global production. This registry aims to increase transparency and inform decision-makers about the impacts of extraction on the remaining carbon budget.
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Frequently asked questions
Fossil fuel carbon reserves are geological reserves of fossil fuels that contain carbon from plants and animals that lived millions of years ago.
Fossil fuel reserves contain approximately 3.5 trillion tonnes of carbon dioxide.
Most of Earth's carbon is stored in rocks and sediments, with the rest located in the ocean, atmosphere, plants, soil, and fossil fuels. The ocean is the largest reservoir of carbon, followed by fossil fuel reserves.
Burning fossil fuels releases the stored carbon into the atmosphere, altering the balance of the carbon cycle and leading to increased concentrations of atmospheric carbon dioxide, which is the primary driver of climate change.
The United States, China, Russia, Australia, and Indonesia are among the countries with significant fossil fuel carbon reserves.
