Global CO2 emissions from burning fossil fuels are on track to rise around 1% this year, scientists said on Nov. 11, warning this would make it harder for the world to avoid disastrous levels of climate change.
Released during the United Nations COP27 climate summit, the Global Carbon Budget report laid bare the gap between the promises governments, companies and investors have made to cut planet-warming emissions in future years and their actions today, which cause emissions to keep rising.
Countries are expected to emit a total 41 billion tonnes of CO2 in 2022, said the report by more than 100 scientists, with 37 billion tonnes from burning fossil fuels and 4 billion tonnes from uses of land like deforestation.
This year's increase was driven by higher oil use in transport, particularly aviation, as economies continued to reopen from lockdowns during the COVID-19 pandemic.
Emissions from burning coal increased, as countries have turned to the most-polluting fossil fuel after Russia restricted natural gas supplies to Europe after its February invasion of Ukraine, which sent global gas prices soaring.
CO2 output from China, the world's biggest polluter, fell by 0.9% as COVID-19 lockdowns persisted. European emissions also decreased slightly.
Emissions rose by 1.5% in the United States and jumped by 6% in India, the world's second and fourth-biggest emitters, respectively.
The U.N. climate science panel has said global greenhouse gases must decrease 43% by 2030 to limit global warming to 1.5 C and avoid its most severe impacts.
The COVID-19 pandemic caused a record drop in global CO2 emissions in 2020, but emissions are now back up to slightly above pre-COVID-19 levels.
It is difficult to predict emissions in coming years due to uncertainties around countries' longer-term response to the pandemic and Russian gas crunch, for example, whether they keep burning coal, or instead invest heavily in clean energy.
"It's complicated," said the report's lead author Pierre Friedlingstein, climate scientist at the University of Exeter. "We can't say for sure yet that emissions from China are declining in the long run... the return to use of coal in Europe, let's hope it's temporary."
Recommended Reading
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.
Offshore, Middle East Buoys SLB’s 2Q as US Land Revenue Falls
2024-07-19 - Driven by a strong offshore market and bolstered by strategic acquisitions and digital innovation, SLB saw a robust second quarter offset by lower drilling revenue in the U.S.
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.
Liberty Energy Warns of ‘Softer’ E&P Activity to Finish 2024
2024-07-18 - Service company Liberty Energy Inc. upped its EBITDA 12% quarter over quarter but sees signs of slowing drilling activity and completions in the second half of the year.
Wildcatter at Heart: Autry Stephens (1938-2024)
2024-08-18 - Legendary wildcatter Autry Stephens, founder and chairman of Midland Basin E&P Endeavor Energy Resources, stayed true to his “never sell” strategy.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.