‘Clean energy surge results in slower rise in global carbon emissions in 2023’

Global Energy-Related Carbon Emissions Slow Down in 2023 Due to Clean Energy Expansion

Recently released data from the International Energy Agency (IEA) shows a promising development in the fight against climate change. In 2023, global energy-related carbon emissions hit a record high of 37.4 billion tonnes, but the increase of 410 million tonnes, or 1.1%, was lower than the previous year’s rise of 490 million tonnes.

The reason for this slower growth in emissions can be attributed to the continued expansion of renewable energy sources, nuclear power, and electric vehicles. The IEA report highlights the crucial role that clean energy technologies like solar PV, wind power, and electric cars have played in curbing the rise of CO2 emissions. Without these advancements, the increase in global emissions over the past five years would have been three times larger.

Despite a rise in GDP in advanced economies, there was a global decline in emissions in 2023. It marks the first time that more than half of electricity generation in advanced economies came from renewable or low-emission sources. Additionally, clean energy deployment outpaced fossil fuels from 2019 to 2023 by a factor of two.

However, the IEA emphasizes the need for greater international collaboration to boost clean energy investment and deployment in emerging and developing economies. Currently, advanced economies and China lead the way in clean energy adoption, accounting for 90% of new solar PV and wind power plants globally, as well as 95% of electric vehicle sales.

IEA Executive Director Fatih Birol commended the progress in the clean energy transition but stressed the importance of ramping up efforts worldwide. “The commitments made at COP28 in Dubai demonstrate the path to lowering emissions. It is crucial to support emerging and developing nations in increasing their clean energy investments,” Birol added.

With the global energy demand rising, the focus on clean energy solutions is more critical than ever. The continued expansion of renewables and low-emission technologies is key to achieving a sustainable and carbon-neutral future.