Australian researchers have developed a groundbreaking online tool known as the Carbon Impacts Tracer, which can evaluate the environmental effects of fossil-fuel projects on the climate. To demonstrate its capabilities, they have chosen a Canadian offshore oil venture as a case study.
Sarah Perkins-Kirkpatrick, a climate science expert at the Australian National University, explained during a virtual press briefing that the tool can connect the emissions from specific fossil-fuel initiatives to their impact on global warming, resulting in various consequences such as glacier melting and potential human fatalities.
By utilizing carbon dioxide emission data provided by project developers and scientific literature, the Carbon Impacts Tracer is able to project the projected temperature rise caused by a project and its real-world implications, including coral reef degradation, reduced food production, and job losses.
The tool was recently launched and features analyses of several Australian ventures, a project in the U.K., and the proposed Bay du Nord offshore oil development in Canada, led by Equinor, a Norwegian energy company. The tool suggests that the CO2 emissions from Bay du Nord could lead to a minute temperature increase globally over 20 years.
Furthermore, it estimates that the emissions would result in increased exposure to extreme heat for over 111,000 individuals and contribute to 25 heat-related deaths in Europe. The tool also predicts glacier loss, sea level rise, job losses, and an increase in poverty due to the project’s pollution.
Although Equinor did not respond to requests for comments, Joel Finnis, a climatologist from Memorial University, emphasized the significance of the tracer project in illustrating the comprehensive impacts of fossil fuel initiatives. Maria Nawaz from the University of New South Wales highlighted the tool’s potential to enhance climate litigation and aid in assessing project risks by insurers and economic impacts by economists.
The Carbon Impacts Tracer currently focuses on proposed projects and plans to include more developments as data becomes accessible, positioning it as a vital resource for governments, regulators, and the public in evaluating the environmental repercussions of new ventures.