CO2 Emissions in 2022 – Analysis – IEA

CO2 Emissions in 2022 – Analysis – IEA

Recently the International Energy Agency (IEA) has released the report ‘Carbon dioxide CO2 emissions in the year 2022’.

This is the first report in a new series by the IEA called ‘Global Energy Transition Stocktake – Looking at Paris Agreement Progress’.

The report provides a complete picture of energy-related Green House Gases (GHG) emissions in the year 2022.

Key findings of report –

  • Global energy-related CO2 emissions are projected to increase by 0.9 percent in 2022. These emissions have reached a new level of over 36.8 gigatonnes (Gt).
  • CO2 emissions are caused by the combustion of fossil fuels such as oil, coal and natural gas.
  • Despite the increase in CO2 emissions, this is much lower than the global economic growth rate of 3.2 per cent.
  • Thus the trend has reverted to the decades-old trend of decoupling emissions and economic growth.
  • Decoupling with respect to emissions means that economic growth is no longer closely linked to fossil fuel consumption.
  • Clean energy technologies (wind and solar power, electric vehicles, etc.) have helped prevent an additional 550 million tons of CO2 emissions.

Global Energy Transitions Stocktake

  • It tracks technology, investment and people-centred progress towards achieving the goals of the Paris Agreement.
  • Also, it supports the first GlobalStockTake (GST), which will conclude in the year 2023 at COP (Conference of the Parties) – 28.
  • The first Global Stocktake started at COP-26. It assesses the world’s collective progress towards the Paris Agreement and long-term climate goals.
  • The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 parties during the COP-21 conference held in Paris in 2015.

Source – Business Standard

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