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Measuring oil and gas revenues per tonne of CO2e

Measuring oil and gas revenues per tonne of CO2e

Making progress on energy transition goals will require open and trusted data to inform public debate and policy options. 

Carbon Tracker recently announced that it was creating a Global Registry of Fossil Fuels, the “Registry,” which will be a concrete policy tool to measure production, the associated emissions, and how those relate to a 1.5°C compatible pathway.  The Registry will contain datasets and tools that can inform policy and economic discussions around an equitable wind down of fossil fuel consumption, consistent with global climate targets.  A key goal of the registry is to provide an open-source framework for data related to the energy transition and to integrate Registry data with existing, freely available datasets.

As part of the energy transition, policymakers will need to consider a range of challenges.  Among them is the question of how the wind-down of fossil fuel production will impact producer countries where public debate can be expected to focus on the economic effect of any changes to oil and gas production, and the commensurate impact on emissions.

To support dialogue on this key issue, the EITI and Carbon Tracker Initiative, building on data prepared for the Global Registry of Fossil Fuels, have combined datasets to create a starting point for measuring how much governments earn from oil and gas revenues per tonne of carbon dioxide emissions produced.  Better understanding of this metric can influence debate on the re-investment potential of fossil fuels into alternative public goods.

The data allows comparisons between estimated carbon emissions from 20 EITI implementing countries against their government revenue receipts in 2018 (the last full year available). The methodology underpinning the data should be read alongside the data.  The dataset is intended as an initial contribution to debate and an illustration of how such analysis can inform key questions for resource-dependent countries.