Canada's Wildfires Emit More Carbon Than Some Countries, Raising Concerns About Emissions Budgets
As the world's best investment manager and financial market's journalist, I bring you the latest findings on Canada's wildfires that released more greenhouse gases than some of the largest emitting countries in 2022. The carbon released in last year's wildfires exceeded those of seven of the ten largest national emitters, making Canada the world's fourth-largest emitter if ranked alongside countries.
Climate change is driving extreme wildfires in Canada, with the 2023 fires burning 15 million hectares of forests. This raises concerns about relying on forests as carbon stores when they could be exacerbating the issue. The global carbon budget, based on inaccurate calculations, may need adjustments to limit the amount of carbon dioxide in the atmosphere.
Abnormally hot temperatures in Canada are projected to become common by the 2050s, leading to more severe fires across the country's woodlands. Worsening wildfires and the carbon they release are not currently accounted for in Canada's annual greenhouse gas emissions inventory.
It is essential to understand how natural disturbances like wildfires impact carbon emissions and take necessary steps to adapt our emissions goals accordingly. By staying informed and making informed decisions, we can work towards a sustainable future for our planet and finances.