EnergyCO2 Emissions grew in 2023, But there’s still something GOOD

CO2 Emissions grew in 2023, But there’s still something GOOD

In 2023, there was a 1.1% increase in CO2 emissions related to energy. In contrast to the Paris Agreement’s requirement that global climate emissions reduce quickly, CO2 emissions in 2023 hit a new record high of 37.4 Gt.1. This estimate is based on an in-depth, study by the IEA of the most recent official national energy data, region by region and fuel by fuel, augmented by information on the state of the economy and weather.

Gaining knowledge of the different factors contributing to this increase in emissions can help one assess the state of the energy transition and its future prospects.

Read also:

In 2023, there was a 1.1% increase in emissions, or around 410 million tonnes (Mt CO2). In 2023, the global GDP grew at a rate of approximately 3%, although the percentage rise of emissions was significantly slower. Thus, CO2 grew more slowly last year than it did the year before due to the worldwide economic downturn. 

The ten-year period ending in 2023 has seen a minor increase in global CO2 emissions of over 0.5% annually. This is not only the result of the COVID-19 pandemic: emissions dropped sharply in 2020, but by the next year they had returned to their pre-pandemic level. It was also not brought on by the weak growth of the world GDP, which throughout the course of the preceding ten years averaged a robust 3% annually, in keeping with the average for the previous fifty years.

Read also:

In comparison to the 1970s and 1980s, which witnessed significant disruptions from the two energy shocks of 1973–1980 and 1989–1990, as well as a global macroeconomic shock from the fall of the Soviet Union in 1989–1990, the rate of emissions growth observed over the last ten years has slowed. Setting the past 10 years in a larger historical context reveals that the highly disruptive decades of World War I and the Great Depression were the only times CO2 emissions increase was relatively modest. Thus, even as the world’s wealth increases, CO2 emissions are structurally slowing down.

- Advertisement -spot_img

More About Climate

Food wastage is the major cause of Global hunger and climate crisis: UN

Even though over 730 million people are hungry worldwide,...

French President Emmanuel Macron says EU-Mercosur trade pact is ‘very bad deal’

France: A proposed trade deal between the EU and...

Increase of new US fossil fuel activity threatens Paris climate goals

According to a new analysis, the global producers of...

Activists claim that the rise of fossil gas in Europe is accelerating the climate crisis

Protesters have warned that Europe's growing use of fossil...

Australia and Tuvalu agree to sign a security and climate pact

Australia: Pat Conroy, Australia's minister for the Pacific, told...

Energy firms in Texas placing bets on hydrogen as CO2-free fuel for vehicles

"Texas energy companies are betting hydrogen can become a...

Unsustainable urban growth and rising sea levels, Gulf region Struggling with climate change

According to Middle East Institute the Gulf region's unsustainable...

Climate change makes heatwaves in Africa ten times more likely: study

Humid heatwaves typically occur in March or April in...

Wants to produce mac and cheese with clean energy: Biden administration

US: The biggest investment to date in reducing industrial...
- Advertisement -spot_img