Record CO2 emissions in 2023

Suffering from a CO2 emissions drought… they are the cause

With a 1.1% growth in emissions according to International Energy Agency (IEA) data published on March 1, 2024, the trend is clear: More and more emissions are created, while the objective is to reduce them. In 2024, the increase will reach an unprecedented peak of 37.4 billion tons of CO2 worldwide.

The reason, according to the IEA: severe drought and declining hydroelectric production due to China’s economic growth.

Significant reductions in global hydropower generation affected by prolonged drought have increased emissions by about 170 million tons. Countries such as China, Canada and Mexico then switched to other, more polluting forms of electricity generation, such as fuel oil or coal. China continues its intensive economic growth while emitting more and more carbon, adding 565 million tons of CO2 to the global balance. However, this is a problem: in advanced economies it is the opposite. According to the IEA, 2023 saw a record drop in emissions despite GDP growth.

Renewables slow CO2 emissions slightly

The International Energy Agency (IEA) highlights the importance of renewable energy, which has helped curb emissions, despite rising global energy demand. Between 2019 and 2023, the increase in energy-related emissions would have tripled without the deployment of key technologies such as solar, wind, nuclear, heat pumps and electric cars. Despite the effect of this cancellation, during the period, they increased by 900 million tons.

“ Transition to clean energy continues apace and curbs emissions – despite global energy demand growing faster in 2023 than in 2022 », the IEA writes in its report.