Apr 29, 2013 - 3:38pm
Australian and overseas investments in Australian coal resources rest
on a speculative bubble that ignore their impact on global carbon
budgets and their exposure to rapid devaluation, finds this report by
The Climate Institute and the Carbon Tracker Initiative.
gigatonnes of carbon pollution (GtCO2) in Australian coal reserves that
companies already have on their books represent about 25 per cent of a
precautionary 200 GtCO2 global carbon budget for coal. The report
follows recent global analysis, which confirmed that for there to be an
80 per cent chance of achieving internationally agreed targets of
limiting global warming to 2°C, only 20-40 per cent of existing coal,
gas and oil reserves can be burnt.
Download the report below. To access all other related content including factsheets, infographics and a presentation visit the project page here.