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Global emissions set to peak in 2024 thanks to EVs, clean energy

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By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Canary Media or enjoy below:

🗞️ Driving the news: Global carbon emissions are set to peak in 2024 and begin a slow decline, thanks to the rise of electric vehicles (EVs) and renewable energy, according to a new report by DNV
Despite progress, emissions will only halve by 2050, which is too slow to meet the 1.5°C warming target set by the Paris Agreement
The report warns that under current trends, global temperatures could rise by 2.2°C by 2100

🔭 The context: Solar energy and EV adoption are driving the shift away from fossil fuels, with record solar installations and falling battery prices making clean energy more affordable
China leads in renewable installations and EV uptake, significantly influencing global emissions trends
While some high-income countries are reducing emissions, others continue to see growth

🌍 Why it matters for the planet: While emissions peaking in 2024 is a milestone, the pace of decline is insufficient to prevent severe climate impacts
Faster reductions are needed to avoid surpassing critical global warming thresholds

⏭️ What's next: Policy changes, including stricter mandates and carbon pricing, are crucial to accelerating emission reductions
Without stronger efforts, the world risks exceeding the 1.5°C target

💬 One quote: "Instead of saying that we’re on the wrong track, we can say that we’re on the right track, although we’re still at the wrong pace" – Sverre Alvik, DNV

📈 One stat: EVs accounted for 13% of global new vehicle sales in 2023, with predictions to reach 50% by 2031

Click for more news covering the latest on carbon

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