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illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:
🗞️ Driving the news: According to the International Energy Agency (IEA), global energy-related carbon dioxide (CO2) emissions reached a new high in 2023, marking an increase due to higher fossil fuel use, especially in countries experiencing droughts that impacted hydropower generation
🔭 The context: The rise in emissions to 37.4 billion tonnes, was partly mitigated by the expansion in clean technologies like wind, solar, and electric vehicles
• This increase comes despite a previous slowdown in emissions growth to 1.3% in 2022, attributed to a rebound in activities such as China's economic reopening and the aviation sector's recovery
🌍 Why it matters for the planet: This record high in CO2 emissions underscores the significant challenge of meeting global climate targets set in the Paris Agreement
• With 40% of the emissions rise linked to the replacement of lost hydropower due to droughts, it highlights the vulnerability of our energy systems to climate change and the urgency of transitioning to more resilient, renewable energy sources
⏭️ What's next: The report emphasizes the critical need for steep cuts in CO2 emissions to prevent runaway climate change, alongside further investments in clean energy technologies and infrastructure
💬 One quote: "Far from falling rapidly - as is required to meet the global climate goals set out in the Paris Agreement - CO2 emissions reached a new record high," (the IEA)
📈 One stat: Global emissions from energy rose to 37.4 billion tonnes in 2023, a 1.1% increase from the previous year
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