2024-01-23 16:57:47
Global carbon (CO2) emissions will likely peak in 2024, a sign of an ongoing and promising energy transition. Renewable energy, such as solar and wind, as well as the growth of electric vehicles, will contribute to this change.
The International Energy Agency (IEA), which initially estimated a peak in energy emissions by 2025, has been outdone by new forecasts from think tank Ember Climate. According to them, global emissions will already have reached their peak in 2022, signaling significant progress in the global energy transition.
Global electricity is undergoing a gradual process of decarbonization fueled by the rapid growth of renewable energy, which might even outpace growing electricity demand as early as this year. This situation will naturally lead to a reduction in the consumption of coal and gas, thus contributing to the reduction of associated emissions. However, it is important to note that the achievements of these forecasts depend on various factors, the major role of which is played by China, the world’s largest emitter. China’s efforts in 2023, with a massive deployment of sustainable energy, bring it closer to the time when it can fully cover its growing electricity demand.
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The electric car revolution is also a key element of this transition. Record sales of electric models in France last year, as well as the global rise of electric vehicles, one in five of which are sold worldwide, are contributing significantly to the drop in emissions.
This energy transition will also begin to influence global oil demand, with forecasts suggesting a slowdown starting in 2027, according to the Bloomberg New Energy Finance report. Despite the positive sentiment that peak emissions represent an encouraging start, it is crucial to emphasize the imperative to reduce emissions quickly. This highlights the continued need for innovation and concerted action to shape a more energy sustainable future. The world is on the path to a greener future, but there is still much to do to respond to climate challenges.
