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A worldwide analysis of stranded fossil fuel assets' impact on power plants' CO2 emissions.
- Source :
- Nature Communications; 9/2/2024, Vol. 15 Issue 1, p1-10, 10p
- Publication Year :
- 2024
-
Abstract
- Will power plants emit less or more CO<subscript>2</subscript> in anticipation of stronger climate policies that would strand fossil fuel reserves? Here, using a worldwide data source on individual power plants' CO<subscript>2</subscript> emissions and the value of countries' at-risk fossil fuel assets, we show that between 2009 and 2018, plants emitted more CO<subscript>2</subscript> in countries where more assets would be devalued under a 1.5 °C scenario, which we theorize is due to these countries' regulatory leniency and plants' vested interest in long-term fossil fuel contracts. Although the extra amount of carbon emitted each year trigged by imperiled assets is relatively small, it would exhaust a sizable portion of the electricity sector's remaining carbon budget when added up over time. This is especially true in the U.S. and Russia where up to 16% and 12% of their budgets, respectively, could be spent within ten years due solely to the stranded asset effect. Since the signing of the Paris Agreement, power plants have emitted more CO<subscript>2</subscript> in countries where more fossil fuel assets would be stranded under this treaty. In the United States, 16% of its electricity sector's carbon budget could be spent within ten years due solely to the stranded asset effect. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 20411723
- Volume :
- 15
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Nature Communications
- Publication Type :
- Academic Journal
- Accession number :
- 179394421
- Full Text :
- https://doi.org/10.1038/s41467-024-52036-8