The UN IPCC backs carbon budget approach
The potential for unburnable carbon and stranded fossil fuel assets has today been thrust into the limelight with the IPCC’s carbon budget analysis in its latest report.
‘The Carbon Tracker Initiative welcomes the IPCC’s dialogue on carbon budgets. Their findings are consistent with our research, reiterating the need to identify unburnable carbon, wasted capital and stranded assets in the capital markets’, says Carbon Tracker chairman, Jeremy Leggett.
The IPCC’s carbon budget assessment recognises the amount of emissions to keep within 2°C is finite. This inclusion reinforces Carbon Tracker’s conclusion that significant fossil fuel reserves need to stay in the ground to limit climate change to a safe level, and serves a timely reminder of the systemic risk sitting on the books of extractives companies.
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