425 — that’s the number of carbon bombs threatening to destroy any hope of limiting global warming to 1.5°C. What is a carbon bomb? Who finances these projects? Why is it dangerous?
425 — that’s the number of carbon bombs threatening to destroy any hope of limiting global warming to 1.5°C.
It’s a massive oil or gas project that will result in at least one billion tonnes of CO2 emissions over its lifetime. The project can be currently operational or planned for the future.
The 2022 study by Kühne et al. revealed the existence of 425 carbon bombs worldwide, including 11 in Europe.
The collaboration between the organizations Data for Good and Eclaircies, along with the compilation of three databases, has made it possible to link these climate bombs to the companies involved and the banks that finance them.
In France, 1 company and 2 banks are involved in carbon bombs:
TotalEnergies - involved in 17 carbon bombs
BNP Paribas - the 5th most involved bank in the world in carbon bombs. 34 companies involved in carbon bombs are financed by BNP Paribas.
Crédit Agricole - the 7th most involved bank in the world in carbon bombs. 31 companies involved in carbon bombs are financed by Crédit Agricole.
As the IPCC points out, any new fossil fuel project makes it impossible to limit global warming to 1.5°C.
Carbon bombs therefore represent the end of any hope of limiting global warming to 1.5°C. They are in total contradiction with the Paris Agreement.
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