There is good news and bad news. The bad one is that global CO2 emissions have reached a new record in 2023. The good one is that the increase has been significantly slowed down by the spread of renewable energy and electric cars. This is certified the International Energy Agency (IEA), that in his latest report analyzed the trend in emissions over the last five years, highlighting the crucial role of clean technologies in combating the climate crisis.
A bitter record
In 2023, energy-related emissions have reached a record high of 37,4 billion tons with an increase of 410 million tons compared to the previous year. The IEA data makes you think, especially if you consider that the increase was 1,1%, slower than in 2022 despite accelerated growth in total energy demand.
It's as if humanity is running on a treadmill, increasing speed but remaining stuck in the same place. An image that gives a good idea of the challenge we face.
IEA report, hydroelectric debacle
The drought, which hit the country hard, made the situation worse hydroelectric sector in many regions of the world. The United States and China have seen an exceptional decline in energy production from this renewable source, resulting in a increase of over 40% in their respective emissions. To fill the gap, we read in the IEA report, these countries have turned mainly to fossil fuels, further worsening the CO2 balance.
In other words, one of the most effective weapons in the fight against climate change has disappeared precisely in the moment of need. But all is not lost.
The role of advanced economies
They say that the rest of us count for nothing in the general calculation of emissions, but this is not the case. While the rest of the world struggled to contain emissions, advanced economies saw record drops in their emissions in 2023, despite GDP growth. The The level reached is the lowest in the last 50 years, with demand for coal falling to its lowest level since the early 1900s. A result made possible by a mix of factors: strong diffusion of renewables, transition from coal to gas, improvements in energy efficiency and... weaker industrial production.
Perhaps (perhaps) the richest countries have found the right recipe to decouple economic growth from emissions, demonstrating that another development model is possible. And it is no coincidence that for the first time, at least half of the electricity production in these nations comes from low-emission sources such as renewables and nuclear.
IEA report, the impact of clean energy
The real protagonist of this story is clean energy. In the last five years, its growth was double that of fossil fuels, setting the stage for an acceleration of the energy transition this decade.
The wind and the solar they avoided annual coal consumption equal to that of the electricity sectors of India and Indonesia combined, while also denting demand for natural gas. And let's not forget electric cars, which will account for 2023 in 1 new cars sold globally in 5, helping to keep oil demand below pre-pandemic levels.
The "magic formula" to disenchant fossil fuels is made of technological innovation, far-sighted policies and informed consumer choices.
Emissions, we are at a crossroads
On the one hand, emissions continue to increase, driven by growing demand for energy and dependence on fossil fuels. On the other hand, clean technologies are demonstrating their full potential in countering this trend, offering a way out of the climate crisis.
It's up to us to decide which path to take. We can continue to follow the path that has brought us here, with all the risks and unknowns that entails. Or we can accelerate the transition to a more sustainable future by investing in renewables, energy efficiency and electric mobility.
The choice is in our hands. And time is running out. Because, as the IEA reminds us, without the contribution of clean energy the increase in emissions in the last five years would have been three times greater.
A fact that makes us reflect on what is at stake and the urgency of acting.
