In 2023, global CO2 emissions reached a record high 37.4 billion tonnes. But there is still hope for the future.
According to the report from the International Energy Agency, global energy-related CO2 emissions grew by 1.1 per cent in 2023, an increase of 410 million tonnes. Coal emissions contributed to 65 per cent of this increase, and global droughts leading to a shortfall in hydropower generation contributed to an increase in carbon emissions of roughly 170 Mt.
However, there are positives to be taken away from the IEA report. Since 2019, without the expansion and development of key green technologies including solar PV, wind, nuclear, heat pumps, and electric vehicles, the emissions growth between 2019 and 2023 would have been an estimated three times larger than the actual emissions growth of around 900 Mt. Clean energy growth is limiting emissions growth and having a positive climate impact.
Tracking the progress of renewables, global capacity additions of wind and solar “reached a record almost 540 GW in 2023, up 75 per cent on the level of 2022,” the report states. Furthermore, the sales of electric cars rose to almost 14 million, 35 per cent higher than 2022. While global CO2 emissions are still far too high for key global climate targets, clean technology growth is occurring at impressive rates.
