GHG emissions could exceed record high levels by 2023, predicts IEA
Category: #energy-and-environment  By Pranali Mehta  Date: 2021-07-22
  • share
  • Twitter
  • Facebook
  • LinkedIn
GHG emissions could exceed record high levels by 2023, predicts IEA

The International Energy Agency has warned that global greenhouse gas emissions (GHG) could reach new highs in the coming years as governments have failed to "build back better" from the Covid19 outbreak.

According to the agency, emissions will increase this year and next year, following a dip last year, and 2023 could witness peak levels of carbon dioxide output in human history, equaling or exceeding the record set in 2018.

Sources claim that increasing at this rate would put the Paris climate agreement's goals unattainable, as experts have recently warned that emissions must be reduced to half in the coming years if global temperature rises are to be kept below 1.5 degrees Celsius, beyond which the repercussions of climate breakdown will damage vast swaths of the globe.

Fatih Birol, IEA’s executive director, said that rich countries must keep their promises to provide at least $100 billion each year in climate finance flows to developing countries for helping them reduce emissions and deal with the impacts of extreme weather. The commitment of $100 billion each year has been a major sticking point in the run-up to the Cop26 discussions.

As reported by a source, roughly a tenth of all recovery expenditure, or approximately $1.8 trillion, would positively impact the climate and environment. Furthermore, China, the world's largest emitter, has made renewable energy expenditures, but it continues to spend heavily on coal and high-CO2 infrastructure.

CO2 emissions had already risen substantially following a sharp drop last spring when governments throughout the world imposed a series of lockdowns. According to the International Energy Agency (IEA), the gold standard for emissions forecasting, emissions are on track to rise by the second major amount on record this year.

Reportedly, the rapid increase in emissions is due to governments' failure to invest in green energy as part of their efforts to reduce carbon emissions.

Source Credit - https://www.theguardian.com/environment/2021/jul/20/emissions-record-high-by-2023-if-green-recovery-fails-says-iea

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

At-Bay secures $185 Million in Series D funding; values at $1.35 Billion
At-Bay secures $185 Million in Series D funding; values at $1.35 Billion
By Pranali Mehta

The Series D round marks as At-Bay’s third round in the past 18 months The company recently recorded $160 million in annual recurring revenue At-Bay, a leading cyber insurance company, has banked $185 million in a Series D financing round ...

Microsoft records highest performing quarter driven by cloud growth
Microsoft records highest performing quarter driven by cloud growth
By Pranali Mehta

Multinational tech giant Microsoft Corp. has announced quarterly results, which reported its most profitable quarter. The company’s earnings and revenue beat Wall Street’s consensus as surging demand for cloud services counterbalanced the...

Sun Pharma inks deal to commercialize Winlevi in Canada and the U.S.
Sun Pharma inks deal to commercialize Winlevi in Canada and the U.S.
By Pranali Mehta

Cassiopea S.p.A will be the exclusive supplier, as per the new agreement. Sun Pharma’s share price grew by 1.06% to 9.43 USD following the announcement. Sun Pharmaceutical Industries Limited announced to have signed an agreement with Cassi...