Australian researchers have developed a groundbreaking online tool called the Carbon Impacts Tracer to assess the climate effects of fossil fuel projects, with a Canadian offshore oil endeavor as a case study. The tool, introduced by climate science professor Sarah Perkins-Kirkpatrick at the Australian National University, can link individual projects’ emissions to their impact on global warming and subsequent consequences.
The Carbon Impacts Tracer utilizes carbon dioxide emission data from project proponents to calculate the projected rise in global temperature. It also estimates real-world effects such as coral reef degradation, reduced food production, and job losses based on scientific literature. The tool’s launch featured analyses of several Australian projects, a U.K. initiative, and the proposed Bay du Nord offshore oil project in Canada, led by Equinor.
The Bay du Nord project, expected to extract over 430 million barrels of oil, could result in 188 megatonnes of CO2 emissions over two decades, leading to a minimal temperature increase. Additionally, the tool predicts increased heat exposure for thousands of individuals, heat-related deaths, glacier loss, sea level rise, job cuts, and a rise in poverty due to the project’s pollution.
Experts like climatologist Joel Finnis and Maria Nawaz from the University of New South Wales emphasized the tool’s significance in connecting fossil fuel projects to their tangible impacts, debunking the notion that such projects have negligible environmental consequences. They anticipate its use by governments, regulators, and the public to evaluate project proposals and enhance climate litigation efforts.
The Carbon Impacts Tracer currently focuses on proposed projects and aims to incorporate more developments as data becomes accessible. Its potential applications extend to risk assessment by insurers and economic impact projection by economists. The tool’s comprehensive approach consolidates diverse research findings to provide a user-friendly platform for understanding the multifaceted implications of fossil fuel endeavors.