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Climate change
Published in Sigrun M. Wagner, Business and Environmental Sustainability, 2020
Further ways of calculating and illustrating the need for action is in the form of a carbon budget, which is the estimated amount of carbon dioxide (and its equivalents) that can be emitted while keeping global temperature rise below 2°C compared to 1850. According to the IPCC Fifth Assessment Report (AR5), by 2011, the world had used up 52% of its carbon budget and under a high emissions, fossil fuel intensive scenario, where global CO2 emissions keep growing at current rates, the remaining carbon budget would be spent by 2045. Under a low emissions scenario that involves transformative change, global emissions have to peak by 2020 and then need to decline for the 2°C target to be met cost-effectively (WRI 2014).
2-Rich Natural Gas to Energy Supply-Chain
Published in Subhas K Sikdar, Frank Princiotta, Advances in Carbon Management Technologies, 2020
Ofélia de Queiroz Fernandes Araújo, Stefano Ferrari Interlenghi, José Luiz de Medeiros
The cumulative amount of carbon dioxide (CO2) that can be emitted is referred to as the “carbon budget”. In the latest Intergovernmental Panel on Climate Change (IPCC) report, the budget for having a 50% chance of keeping the average global warming below 2°C—the UN Paris Agreement, namely the 2D scenario—is estimated to be approximately 275 Gt of carbon (1008 Gt CO2) (IPCC, 2014a). Clearly, the oil and gas (O&G) industry demands urgent and efficient technologies for CO2 management, to mitigate the risk of having three quarters of the proven fossil reserves becoming unburnable (IPCC, 2014b)—the Stranded Asset Risk (SAR) scenario. Despite the 2D and SAR scenarios, the O&G industry might be building excess capacity (Musarra, 2017) and, to achieve the expected return on invested capital, production life needs to be extended beyond 2050, and a fossil fuel lock-in is expected to occur to some extent.
Global Carbon Budgets and the Role of Remote Sensing
Published in Prasad S. Thenkabail, Land Resources Monitoring, Modeling, and Mapping with Remote Sensing, 2015
ere are at least two additional ways that satellite data might be used to constrain the global carbon budget. One is with repeated measurements of CO2 in the atmospheric column, and one is with measurement of canopy photosynthesis.
Carbon budget management in the civil aviation industry using an interactive control perspective
Published in International Journal of Sustainable Transportation, 2021
Caiping Zhang, Kaiyang Song, Hui Wang, Timothy O. Randhir
Regarding the global carbon budget, Pan and Chen (2009) applied a scenario analysis method with 1990 as the base year for assessment and 2050 as the assessment deadline. It assumes that global emissions are capped in 2015, with peaks above the 2005 level of approximately 10%. Under this scenario, the global carbon budget for the 151 years from 1900 to 2050 is about 2.27 trillion metric tons of CO2. In 2005, the global total population was about 6.46 billion, and the per capita cumulative emissions were about 352.5 tons of CO2, which averaged at a carbon budget per person per year of 2.33 tons of CO2. Alcaraz et al. (2018) proposed a global carbon budget allocation model based on climate justice criteria, which accounts for the different historical responsibilities of different countries, based on a clear target total for keeping the increase in the global average temperature to well below 2 °C above pre-industrial levels, the model can be used to obtain the carbon budget allocated to different countries and the corresponding emission reduction curve.
Power sector asset stranding effects of climate policies
Published in Energy Sources, Part B: Economics, Planning, and Policy, 2019
Deger Saygin, Jasper Rigter, Ben Caldecott, Nicholas Wagner, Dolf Gielen
To date, much of the existing research has focused on asset stranding facing listed upstream fossil fuel producers, particularly international oil companies listed on the New York and London stock exchanges, and how their fossil fuel reserves are incompatible with required carbon budgets (see Table 1).1Carbon budget is defined as the maximum level of CO2 that can be emitted to remain below a certain temperature with a probability value. This upstream focus potentially misses an important part of the impacts. In a transition to a low-carbon energy sector, sectors such as electricity generation are likely to be disrupted first. Subsequently, fossil fuel demand is reduced which affects the value of fossil fuel production assets. Delaying action could potentially result in a higher stranded asset value as it requires accelerated efforts to meet the same policy goal (Bertram et al. 2015).
Towards optimised decisions for resource and carbon-efficient structural design
Published in Civil Engineering and Environmental Systems, 2023
Ramon Hingorani, Jochen Köhler
In the light of the tremendous challenges our society is facing, e.g. in regard to climate change or resource scarcity, the research community is in demand to find solutions that provide the foundation for sustainable societal development. While employed in a wide context, it has been agreed that sustainable development must be addressed by a joint consideration of society, economy and the environment (Webb and Ayyub 2017). A key driver for all three of these pillars is the construction sector. Besides its evident importance to the society – it develops the entire built environment, i.e. infrastructure and buildings, that support our societal activities – and its economic significance – about 10 trillion U.S.$ spent globally on construction-related goods and services every year (McKinsey 2017) – the sector causes important environmental concerns (CIB 1999). Among these, emission of greenhouse gases and hence global warming potential, are specific of importance. The construction sector is estimated to be responsible for more than 20% of the total CO emissions produced by the global economic activities (Huang et al. 2018, European Comission 2021b). About the half of this share can be associated with building construction (GABC 2020). Relatively recent studies indicate a remaining carbon budget for the twenty-first century of about 1000 Gt CO in order to limit average global warming to 2C compared to preindustrial levels with high likelihood as demanded by the Paris Agreement on Climate Change, what is equivalent to fewer than 30 years of current global emissions (Kriegler et al. 2014) and to about 35% of the emission budget for building the required infrastructure in developing countries assuming current level of technologies (Müller et al. 2013). To get the global construction sector on track to achieving the goals of this agreement, building and infrastructure decarbonisation commitments all over the world need to increase in both scale and pace.