Is 2023 the Year Global Emissions Will Peak?

Great⁢ news‌ on the‌ global response to the climate crisis! An analysis released today shows a ⁤70 percent chance that global greenhouse emissions‍ will‌ start​ falling in 2024, making ‌2023 the year‍ when emissions‌ peaked.

The ‍report from Climate Analytics, a science and policy institute ⁣in Berlin, offers a timely dose of ⁤optimism amid recent reports confirming that global ⁢emissions are ‌still rising. This is a result​ of the ⁢current government climate targets putting the world‍ on track for well⁣ over 2 degrees Celsius⁤ of warming​ this century.

The key takeaway ⁤from the ‍report is that if clean technology trends⁤ continue and action on reducing ⁣methane emissions is stepped up, ‍there’s a better than evens chance that greenhouse gas emissions will​ start to ​fall next ⁤year. This is significant as scientists warn that ⁣global emissions must peak by 2025 to keep the‍ 1.5 degrees Celsius goal within reach.

The predictions​ are based on a scenario where current ⁢growth trends⁣ for wind, ⁣solar, and electric vehicle (EV) technologies are maintained, and countries signed up to the Global Methane Pledge make “adequate progress” ​towards their⁢ goal of cutting emissions⁣ 30 percent ⁤by 2030.

Additionally, the rapid rollout ​of zero-carbon technologies in recent ‌years is set to eat into fossil fuel demand, and ⁢it’s projected that installed capacity of renewables would reach around 9 ⁢Terawatts ‍by ⁣2030, ⁢with wind and solar providing ⁢7.5 Terawatts.

Similar findings from energy think tank Ember note that the world is⁣ already close to ⁤being on track to meet the proposed goal of tripling renewable capacity⁢ by 2030. This is a target ⁤set to be debated at the COP28 Climate ⁢Summit in Dubai next ​week.

This‍ rapid growth of zero-carbon technologies would be enough to cover ​the projected⁤ growth of energy demand and start to eat into demand ⁤for fossil fuels. Therefore, the scenario sees total fossil fuel demand reaching its⁢ peak‌ in 2023, followed ‍by a rapid decline from 2025.

This promising news is a breakthrough, as the report concludes that energy⁢ demand growth has ⁢historically outstripped ⁤renewables ⁣deployment, despite⁢ record additions of wind​ and solar.

‌» …
Read More

Latest articles

Related articles