• 4 minutes Will Libya Ever Recover?
  • 9 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 13 minutes What Can Bring Oil Down to $20?
  • 16 minutes Venezuela continues to sink in misery
  • 18 hours Alberta govt to construct another WCS processing refinery
  • 5 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 9 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 9 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 20 hours Let's Just Block the Sun, Shall We?
  • 10 hours Water. The new oil?
  • 6 hours Storage will in time change the landscape for electricity
  • 2 days Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 2 days U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 2 days OPEC Cuts Deep to Save Cartel
  • 9 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days Global Economy-Bad Days Are coming
Oil Markets Stuck As Hedge Funds Remain Bearish

Oil Markets Stuck As Hedge Funds Remain Bearish

Crude prices haven’t staged much…

Asian LNG Demand To Quadruple By 2030

Asian LNG Demand To Quadruple By 2030

Demand for liquefied natural gas…

IEA: Emissions In Developed Economies Rise For First Time In Five Years

Emissions

Carbon emissions in the world’s developed economies are set to increase this year for the first time in five years, as higher oil and gas use has more than offset dwindling coal consumption, the International Energy Agency (IEA) said on Tuesday, calling for increased efforts to encourage renewable energy deployment and energy efficiency.

 

According to the latest available energy data, energy-related carbon dioxide (CO2) emissions in North America, the European Union (EU), and the advanced economies in Asia Pacific are set to increase by 0.5 percent in 2018, bucking a five-year-long declining trend, the IEA said.

 

The Paris-based agency also expects carbon emissions at emerging economies to grow this year compared to last year. Full global emissions data for 2018 won’t be released until March next year, but the IEA expects emissions to have increased globally this year, on the back of higher energy use and 3.7-percent global economic growth.

 

“Global energy-related CO2 emissions need to peak as soon as possible and then enter a steep decline for countries to meet climate goals,” the IEA said today.

 

“Our data shows that despite the strong growth in solar PV and wind, emissions have started to rise again in advanced economies, highlighting the need for deploying all technologies and energy efficiency,” Fatih Birol, the IEA’s Executive Director, noted.

 

Last year, global energy-related CO2 emissions rose by 1.4 percent to reach a historic high, the first increase in emissions after three years of global emissions remaining flat, the IEA has estimated. Carbon emissions growth last year was not universal, with emissions in major advanced economies, including the United States, the United Kingdom, and Japan, declining. The biggest decline in 2017 came from the United States, mainly because of higher deployment of renewables.

 

The latest UN report also showed last week that global CO2 emissions increased again in 2017 after a three-year hiatus.

“The science is clear; for all the ambitious climate action we’ve seen – governments need to move faster and with greater urgency. We’re feeding this fire while the means to extinguish it are within reach,” said the United Nations Environment Programme’s (UNEP) Deputy Executive Director Joyce Msuya.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News