Sign of an initiated and promising energy transition, global CO emissions2 will reach a peak in 2024. Renewable energies will continue their rise.
Solar and wind energy and the development of electric transport offer new impetus to the energy transition, and begin the decline in emissions from fossil fuels. Global emissions could peak sooner than expected, marking a major turning point towards a global energy transition.
Global CO emissions2 would have already reached their peak
The International Energy Agency (IEA) changed its forecasts in 2022, banking on a peak in global energy emissions by 2025. The think tank Ember Climate, for its part, revised the predictions, specifying that global emissions had already reached their peak in 2022.
Global electricity is experiencing gradual decarbonization, thanks to the rapid growth of energy from solar and wind. From this year, these renewable sources could exceed the growing demand for electricity, which will consequently lead to a reduction in the consumption of coal and gas, and associated emissions.
But let’s keep in mind that the world does not turn alone, and that forecasts depend on many factors: China for example, the world’s largest emitter. The timing of the emissions peak depends on the Middle Kingdom which, thanks to major efforts in 2023 with a massive deployment of sustainable energy, is nevertheless getting closer to the moment when it will fully cover its – growing – demand for electricity.
The electric car revolution is putting the world in the right direction
Let’s also not forget the rise of electric cars, which plays an essential role. In France last year, a new sales record for electric models was broken. Same thing in the world, where registrations of gasoline and diesel vehicles will no longer reach their peak five years ago, while one in five cars sold worldwide is now electric.
This transition will begin to influence global oil demand, which could slow down from 2027, if we are to believe the data put forward by the Bloomberg New Energy Finance report.
But while peak emissions are a positive start, the need to rapidly reduce emissions remains.
Source : Wired
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