Onshore oil and gas operations are exposed to the ‘full range’ of the physical impacts of climate change. More than 40 percent of commercially recoverable oil and gas reserves are highly exposed to the effects of climate change, Verisk Maplecroft has warned. By combining its subnational onshore and offshore Climate Change Exposure Indices with asset-level data from its sister company Wood Mackenzie, Verisk Maplecroft has highlighted the oil and gas assets most exposed to the physical impacts of climate extremes up to mid-century. The research found that 10.5 percent of global commercially recoverable reserves are found in areas rated as extreme risk in the Climate Change Exposure Indices, while 29.5 percent are in high risk regions. In total, this amounts to around 617 billion barrels equivalent, Verisk Maplecroft noted. The data shows that onshore oil and gas operations are exposed to the “full range” of the physical impacts of […]