CO2 emission record in 2023 due to wrong government policies

International Energy Agency: Record CO2 emissions in 2023 due to wrong government policies

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Carbon dioxide emissions will increase again in the coming years and are expected to reach record levels by 2023, following the global coronavirus outbreak and temporary shutdowns that reduced carbon dioxide emissions last year. This is what the International Energy Agency (IEA) hopes to blame for the Corona recovery plan on rich countries. According to the think tank, little intention to use recovery from the Corona crisis to work on a cleaner future materialized.

Countries from the European Union, the United States, Japan and South Korea are investing in renewable energy and making progress, but this is not enough, the agency said. The International Energy Agency believes that developed economies should help less affluent countries invest in clean energy.

The International Energy Agency previously worked out a plan with the International Monetary Fund to manage investments in renewable energy while recovering from the coronavirus crisis. According to the agency, governments around the world should spend about $1 trillion on clean energy. For now, it remains at $350 billion. Rich countries still score relatively well at 60 percent of the target, while less developed countries are still stuck at 20 percent. The think tank noted that countries such as India, Indonesia and Latin American countries often lack the means to opt for sustainable energy.

According to scientists, carbon dioxide emissions would have to be halved by 2030 compared to 1990 to achieve the maximum 1.5 degree temperature increase agreed in Paris. Ultimately, emissions should be zero by 2050. “With current investments, we are very far from that. Not even enough to prevent a new record of carbon dioxide emissions,” said Birol.