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font-style: italic; color: grey; line-height: 23px; } .tt-post { border: 0px solid #489bd4 !important; -webkit-box-shadow: 0 0px 0 0 #eaeaea !important; -moz-box-shadow: 0 0px 0 0 #eaeaea !important; box-shadow: 0 0px 0 0 #eaeaea !important; } @media only screen and (min-width: 769px) { .relatedsingle{ height: 396px; } .h1, .h2, .h3, h1, h2, h3, .tt-title-text{ margin-top: 0px !important; margin-bottom: 0px !important; } } #fkgUBk { display: none; } </style> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:description" content="The bulk of this year’s emissions are from burning coal, oil and gas and scientists say they don't see a sign of fossil fuel emissions peaking yet" /> <meta name="twitter:title" content="Fossil Fuels Set to Drive Global Emissions to a Record, Yet Again" /> <meta name="twitter:site" content="@ATFinancial_" /> <meta name="twitter:image" content="https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-3.png" /><script type="application/ld+json">{ "@context": "http:\/\/schema.org", "@type": "newsarticle", "inLanguage": "en", "url": "https:\/\/www.asiafinancial.com", "articleBody": " \r\n\r\nDespite unprecedented heat and an increasing number of extreme weather events, the world is set to make zero progress on cutting emissions \u2013 yet again, a new report has indicated.\r\n\r\nScientists say global greenhouse gas emissions are on track to hit another record high this year, thanks to continuing use of fossil fuels for energy.\r\n\r\nEmissions are set to total 41.6 billion metric tons in 2024, up from 40.6 billion tons last year, <strong><a href="https:\/\/globalcarbonbudget.org\/fossil-fuel-co2-emissions-increase-again-in-2024\/" target="_blank" rel="noopener">they said in The Global Carbon Budget report<\/a><\/strong>, published on Wednesday during the United Nations' COP29 climate summit in Azerbaijan.\r\n\r\n \r\n<h3>Also on AF: <a href="https:\/\/www.asiafinancial.com\/cop29-takes-a-step-towards-un-backed-global-carbon-market">COP29 Takes a Step Towards UN-Backed Global Carbon Market<\/a><\/h3>\r\n \r\n\r\nThis will be <strong><a href="https:\/\/www.iea.org\/reports\/co2-emissions-in-2023\/executive-summary" target="_blank" rel="noopener">the second consecutive year<\/a><\/strong> of record high emissions from the world even as warming temperatures fuel unprecedented storms, floods and droughts across the planet.\r\n\r\nIn a report last month the United Nations said the world would break past the 1.5 degrees Celsius warming threshold if emissions continue to grow unabated. It would also mean the world could warm to <strong><a href="https:\/\/www.asiafinancial.com\/funding-gap-hurts-climate-talks-while-world-faces-3-1c-warming" target="_blank" rel="noopener">a \u2018catastrophic\u2019 3.1 degrees by the end of the century<\/a><\/strong>.\r\n\r\nScientists have repeatedly said that the key to meeting climate goals is an energy transition away from fossil fuels. The International Energy Agency says all new oil and gas exploration and expansion\u00a0<strong><a href="https:\/\/iea.blob.core.windows.net\/assets\/deebef5d-0c34-4539-9d0c-10b13d840027\/NetZeroby2050-ARoadmapfortheGlobalEnergySector_CORR.pdf" target="_blank" rel="noopener">needs to stop immediately<\/a><\/strong>\u00a0to limit global warming.\r\n\r\nBut, instead, fossil fuel emissions have climbed over the last decade.\r\n\r\n \r\n<h2>\u2018No end in sight to fossil fuel use\u2019<\/h2>\r\nThe bulk of this year\u2019s emissions are from burning coal, oil and gas. Those emissions would total 37.4 billion tons in 2024, up by 0.8% in 2023, the report said.\r\n\r\n"We don't see a sign of fossil fuel emissions peaking in 2024," said lead author Pierre Friedlingstein, a climate scientist at the University of Exeter.\r\n\r\nWithout immediate and steep emissions cuts worldwide, "we will just go straight into the 1.5C target, we'll just pass it and continue," he said.\r\n\r\nEmissions from international aviation and shipping are also expected to jump by 7.8% this year\r\n\r\nThe rest of emissions for the year, meanwhile, are from land use, a category that includes deforestation and forest fires.\r\n\r\nLand use emissions had declined over the past decade \u2013 until this year, when a severe drought in the Amazon caused forest fires, driving up annual land use emissions by 13.5% to 4.2 billion tons.\r\n\r\nThe dire situation posed by rising emissions is evidenced by the fact that <strong><a href="https:\/\/unfccc.int\/news\/cut-global-emissions-by-76-percent-every-year-for-next-decade-to-meet-15degc-paris-target-un-report" target="_blank" rel="noopener">in 2019, the UN warned<\/a><\/strong> the world needed to cut emissions by 7.6% over the decade starting 2020 to meet the 1.5\u00b0C\u00a0target.\r\n\r\nThe only year that emissions dropped, since that report, was in 2020 after the Covid-19 pandemic brought the world to a standstill.\r\n\r\nEmissions from 2021 started back on an upwards trajectory, crossing pre-pandemic levels in 2023 \u2014 when they hit a record high.\r\n\r\n \r\n<blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https:\/\/www.instagram.com\/p\/C-IQgDUs-mv\/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14">\r\n<div style="padding: 16px;">\r\n\r\n \r\n<div style="display: flex; flex-direction: row; align-items: center;">\r\n<div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"><\/div>\r\n<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;">\r\n<div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"><\/div>\r\n<div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"><\/div>\r\n<\/div>\r\n<\/div>\r\n<div style="padding: 19% 0;"><\/div>\r\n<div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"><\/div>\r\n<div style="padding-top: 8px;">\r\n<div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram<\/div>\r\n<\/div>\r\n<div style="padding: 12.5% 0;"><\/div>\r\n<div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;">\r\n<div>\r\n<div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"><\/div>\r\n<div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"><\/div>\r\n<div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"><\/div>\r\n<\/div>\r\n<div style="margin-left: 8px;">\r\n<div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"><\/div>\r\n<div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"><\/div>\r\n<\/div>\r\n<div style="margin-left: auto;">\r\n<div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"><\/div>\r\n<div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"><\/div>\r\n<div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"><\/div>\r\n<\/div>\r\n<\/div>\r\n<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;">\r\n<div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"><\/div>\r\n<div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"><\/div>\r\n<\/div>\r\n \r\n<p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https:\/\/www.instagram.com\/p\/C-IQgDUs-mv\/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Asia Financial (@asiafinancial)<\/a><\/p>\r\n\r\n<\/div><\/blockquote>\r\n<script async src="\/\/www.instagram.com\/embed.js"><\/script>\r\n\r\n \r\n<h2>Asian emissions on the rise<\/h2>\r\nSome scientists have said such slow progress means the 1.5C aim\u00a0can no longer realistically be met.\r\n\r\nStill, the carbon budget report did indicate some progress, as the data showed that some countries had rapidly expanded renewable energy and electric cars.\r\n\r\nThat expansion was sharply uneven, however. Data showed that while rich industrialised nations cut emissions, emerging economies were still releasing an increasing amount of planet warming gases.\r\n\r\nIndia's emissions are set to rise by 4.6% for the year, driven by soaring power demand fuelled by economic growth.\r\n\r\nEmissions in China, today the world's biggest emitter and second-largest oil consumer, are also set to marginally increase by 0.2%. The report\u2019s authors said China's emissions from oil use have likely peaked, as electric vehicles gain market share.\r\n\r\nMeanwhile, emissions in the US, the world's top oil and gas producer and consumer, are expected to decrease by 0.6% this year, while European Union emissions are set to fall by 3.8%.\r\n\r\nWhether the US continues to maintain that reduction in emissions will depend on policies implemented by newly-elected president Donald Trump.\r\n\r\nTrump believes climate change is a hoax and has promised to reverse dozens of environmental rules and policies deemed as harsh by oil and gas drillers.\r\n\r\n \r\n<ul>\r\n \t<li>Reuters, with additional editing and inputs from Vishakha Saxena<\/li>\r\n<\/ul>\r\n \r\n<h3>Also read:<\/h3>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/we-are-on-a-road-to-ruin-cop29-kicks-off-amid-trump-worry" target="_blank" rel="noopener">\u2018We Are on a Road to Ruin\u2019: COP29 Kicks Off Amid Trump Worry<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/uncertainty-on-methane-emission-fee-as-biden-term-nears-end" target="_blank" rel="noopener">Uncertainty on Methane Emission Fee as Biden Term Nears End<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/scientists-say-2024-virtually-certain-to-be-hottest-on-record" target="_blank" rel="noopener">Scientists Say 2024 \u2018Virtually Certain\u2019 to be Hottest on Record<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/floods-drought-climate-change-worsening-global-water-woes" target="_blank" rel="noopener">Floods or Drought: Climate Change Worsens Global Water Woes<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/asian-economies-at-risk-from-inaction-on-climate-change-adb" target="_blank" rel="noopener">Asian Economies at Risk From Inaction on Climate Change: ADB<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/climate-change-has-cost-china-32-billion-in-just-one-quarter" target="_blank" rel="noopener">Climate Change Has Cost China $32 Billion in Just One Quarter<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/emissions-of-worlds-super-rich-drive-economic-losses-deaths" target="_blank" rel="noopener">Emissions of World\u2019s Super Rich \u2018Drive Economic Losses, Deaths\u2019<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/energy-emissions-set-to-peak-but-not-in-time-for-climate-goals" target="_blank" rel="noopener">Energy Emissions Set to Peak But \u2018Not in Time\u2019 For Climate Goals<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/bp-dumps-oil-pledge-while-chasing-billions-in-climate-subsidies" target="_blank" rel="noopener">BP Dumps Oil Pledge While Chasing Billions in Climate Subsidies<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/scientists-fear-natures-carbon-sinks-are-failing-guardian" target="_blank" rel="noopener">Scientists Fear Nature\u2019s Carbon Sinks Are Failing \u2013 Guardian<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/could-melting-glaciers-trigger-volcanic-eruptions-reuters" target="_blank" rel="noopener">Could Melting Glaciers Trigger Volcanic Eruptions? \u2013 Reuters<\/a><\/h4>\r\n \r\n\r\n ", "articleSection": "Asia", "mainEntityOfPage": { "@type": "WebPage", "url": "https:\/\/www.asiafinancial.com\/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again" }, "headline": "Fossil Fuels Set to Drive Global Emissions to a Record, Yet Again", "description": "The bulk of this year\u2019s emissions are from burning coal, oil and gas and scientists say they don't see a sign of fossil fuel emissions peaking yet", "datePublished": "2024-11-13T13:34:38+00:00", "dateModified": "2024-11-13T13:34:38+00:00", "publisher": { "@type": "Organization", "name": "Asia Financial", "logo": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/themes\/atf\/images\/AF-logo-small.png", "width": "640", "height": "97" } }, "author": { "@type": "Person", "name": "Asia Financial" }, "image": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/uploads\/2024\/11\/AF-Oct-Featured-3.png" } }</script> <script async src="https://www.googletagmanager.com/gtag/js?id=G-CNH68EHNDT"></script> <script> window.dataLayer = window.dataLayer || []; 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text-align: right; vertical-align: middle; } @media screen and (max-width: 767px){ .related-articles-sec .tt-post-inner{ overflow: hidden; border-bottom: 1px dotted rgba(0, 0, 0, 0.2); } .related-articles-sec .tt-post-inner .tt-post-img{ float: right; margin-left: 10px;} .related-articles-sec .simple-text a{font-size: 18px;color: #111;font-weight: 500;line-height: 26px;} .related-articles-sec .tt-post.type-3 .tt-post-info{padding: 0; } .related-articles-sec .tt-post-info .simple-text{ margin-top: 0;} .related-articles-sec .tt-post.type-3{ text-align: left; } } .new-category-design, .tt-post-label-new { margin-bottom: -8px; margin-top: 13px; } </style> <div id="page-wrapper" class="content top-bottom"> <div class="container"> <div class="row story-div"> <div class="marg-lg-b20"></div> <div class="col-md-8"> <div class="story-top"> <div class="reports-big-head"> <div class="tt-post-label tt-post-label-new"> <span class="tt-post-label-new tt-post-cat"> <a href="https://www.asiafinancial.com/carbon">Carbon</a> </span></div> <h1 class="reports-big-head">Fossil Fuels Set to Drive Global Emissions to a Record, Yet Again</h1> </div> <div class="tt-post type-3"> <div class="tt-post-label" style="font-size:14px;">  <span class="tt-post-date" style="margin-left:5px;">November 13, 2024</span></div> <div class="col post-excerpt" style="margin-top:10px;"> <h4> <p>The bulk of this year’s emissions are from burning coal, oil and gas and scientists say they don’t see a sign of fossil fuel emissions peaking yet</p> </h4> </div> <br> <div class="sharethisbx"> <ul class="custom-share"> <li class="facebook"> <a target="_blank" rel="nofollow" href="https://www.facebook.com/sharer/sharer.php?u=https://www.asiafinancial.com/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again"> <i class="fb"><img alt="facebook" src="https://www.asiafinancial.com/wp-content/themes/atf/images/facebook.svg"></i> </a> </li> <li class="twit"> <a rel="nofollow" target="_blank" href="https://twitter.com/share?text=Fossil%20Fuels%20Set%20to%20Drive%20Global%20Emissions%20to%20a%20Record%2C%20Yet%20Again&url=https://www.asiafinancial.com/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again"> <i class="twit"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/twitter.svg?v=1" alt="twitter"></i> </a> </li> <li class="whatsapp"> <a rel="nofollow" href="whatsapp://send?text=https://www.asiafinancial.com/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again"> <i class="wapp"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/whatsapp.svg" alt="whatsapp"></i> </a> </li> </ul> </div> </div> </div> <div class="story-big-img"> <figure>  <img src="https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-3.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Members of the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) fire brigade work to extinguish a fire rising in Amazon rainforest in Apui, Amazonas state, Brazil" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-3.png 710w, https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-3-300x200.png 300w" sizes="100vw" /> <figcaption style="line-height: 17px; font-size: 12px; font-weight: 500; margin-top: 10px; color: #aaaaaa;"> Members of the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) fire brigade work to extinguish a fire rising in Amazon rainforest in Apui, Amazonas state, Brazil, August 2024. Photo: Reuters </figcaption> </figure> </div> <div class="content"> <p> </p> <p>Despite unprecedented heat and an increasing number of extreme weather events, the world is set to make zero progress on cutting emissions – yet again, a new report has indicated.</p> <p>Scientists say global greenhouse gas emissions are on track to hit another record high this year, thanks to continuing use of fossil fuels for energy.</p> <p>Emissions are set to total 41.6 billion metric tons in 2024, up from 40.6 billion tons last year, <strong><a href="https://globalcarbonbudget.org/fossil-fuel-co2-emissions-increase-again-in-2024/" target="_blank" rel="noopener">they said in The Global Carbon Budget report</a></strong>, published on Wednesday during the United Nations’ COP29 climate summit in Azerbaijan.</p> <p> </p> <h3>Also on AF: <a href="https://www.asiafinancial.com/cop29-takes-a-step-towards-un-backed-global-carbon-market">COP29 Takes a Step Towards UN-Backed Global Carbon Market</a></h3> <p> </p> <p>This will be <strong><a href="https://www.iea.org/reports/co2-emissions-in-2023/executive-summary" target="_blank" rel="noopener">the second consecutive year</a></strong> of record high emissions from the world even as warming temperatures fuel unprecedented storms, floods and droughts across the planet.</p> <p>In a report last month the United Nations said the world would break past the 1.5 degrees Celsius warming threshold if emissions continue to grow unabated. It would also mean the world could warm to <strong><a href="https://www.asiafinancial.com/funding-gap-hurts-climate-talks-while-world-faces-3-1c-warming" target="_blank" rel="noopener">a ‘catastrophic’ 3.1 degrees by the end of the century</a></strong>.</p> <p>Scientists have repeatedly said that the key to meeting climate goals is an energy transition away from fossil fuels. The International Energy Agency says all new oil and gas exploration and expansion <strong><a href="https://iea.blob.core.windows.net/assets/deebef5d-0c34-4539-9d0c-10b13d840027/NetZeroby2050-ARoadmapfortheGlobalEnergySector_CORR.pdf" target="_blank" rel="noopener">needs to stop immediately</a></strong> to limit global warming.</p> <p>But, instead, fossil fuel emissions have climbed over the last decade.</p> <p> </p> <h2>‘No end in sight to fossil fuel use’</h2> <p>The bulk of this year’s emissions are from burning coal, oil and gas. Those emissions would total 37.4 billion tons in 2024, up by 0.8% in 2023, the report said.</p> <p>“We don’t see a sign of fossil fuel emissions peaking in 2024,” said lead author Pierre Friedlingstein, a climate scientist at the University of Exeter.</p> <p>Without immediate and steep emissions cuts worldwide, “we will just go straight into the 1.5C target, we’ll just pass it and continue,” he said.</p> <p>Emissions from international aviation and shipping are also expected to jump by 7.8% this year</p> <p>The rest of emissions for the year, meanwhile, are from land use, a category that includes deforestation and forest fires.</p> <p>Land use emissions had declined over the past decade – until this year, when a severe drought in the Amazon caused forest fires, driving up annual land use emissions by 13.5% to 4.2 billion tons.</p> <p>The dire situation posed by rising emissions is evidenced by the fact that <strong><a href="https://unfccc.int/news/cut-global-emissions-by-76-percent-every-year-for-next-decade-to-meet-15degc-paris-target-un-report" target="_blank" rel="noopener">in 2019, the UN warned</a></strong> the world needed to cut emissions by 7.6% over the decade starting 2020 to meet the 1.5°C target.</p> <p>The only year that emissions dropped, since that report, was in 2020 after the Covid-19 pandemic brought the world to a standstill.</p> <p>Emissions from 2021 started back on an upwards trajectory, crossing pre-pandemic levels in 2023 — when they hit a record high.</p> <p> </p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/C-IQgDUs-mv/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <p> </p> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"></div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"></div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"></div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"></div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"></div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"></div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"></div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div> </div> <p> </p> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/C-IQgDUs-mv/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Asia Financial (@asiafinancial)</a></p> </div> </blockquote> <p><script async src="//www.instagram.com/embed.js"></script></p> <p> </p> <h2>Asian emissions on the rise</h2> <p>Some scientists have said such slow progress means the 1.5C aim can no longer realistically be met.</p> <p>Still, the carbon budget report did indicate some progress, as the data showed that some countries had rapidly expanded renewable energy and electric cars.</p> <p>That expansion was sharply uneven, however. Data showed that while rich industrialised nations cut emissions, emerging economies were still releasing an increasing amount of planet warming gases.</p> <p>India’s emissions are set to rise by 4.6% for the year, driven by soaring power demand fuelled by economic growth.</p> <p>Emissions in China, today the world’s biggest emitter and second-largest oil consumer, are also set to marginally increase by 0.2%. The report’s authors said China’s emissions from oil use have likely peaked, as electric vehicles gain market share.</p> <p>Meanwhile, emissions in the US, the world’s top oil and gas producer and consumer, are expected to decrease by 0.6% this year, while European Union emissions are set to fall by 3.8%.</p> <p>Whether the US continues to maintain that reduction in emissions will depend on policies implemented by newly-elected president Donald Trump.</p> <p>Trump believes climate change is a hoax and has promised to reverse dozens of environmental rules and policies deemed as harsh by oil and gas drillers.</p> <p> </p> <ul> <li>Reuters, with additional editing and inputs from Vishakha Saxena</li> </ul> <p> </p> <h3>Also read:</h3> <h4><a href="https://www.asiafinancial.com/we-are-on-a-road-to-ruin-cop29-kicks-off-amid-trump-worry" target="_blank" rel="noopener">‘We Are on a Road to Ruin’: COP29 Kicks Off Amid Trump Worry</a></h4> <h4><a href="https://www.asiafinancial.com/uncertainty-on-methane-emission-fee-as-biden-term-nears-end" target="_blank" rel="noopener">Uncertainty on Methane Emission Fee as Biden Term Nears End</a></h4> <h4><a href="https://www.asiafinancial.com/scientists-say-2024-virtually-certain-to-be-hottest-on-record" target="_blank" rel="noopener">Scientists Say 2024 ‘Virtually Certain’ to be Hottest on Record</a></h4> <h4><a href="https://www.asiafinancial.com/floods-drought-climate-change-worsening-global-water-woes" target="_blank" rel="noopener">Floods or Drought: Climate Change Worsens Global Water Woes</a></h4> <h4><a href="https://www.asiafinancial.com/asian-economies-at-risk-from-inaction-on-climate-change-adb" target="_blank" rel="noopener">Asian Economies at Risk From Inaction on Climate Change: ADB</a></h4> <h4><a href="https://www.asiafinancial.com/climate-change-has-cost-china-32-billion-in-just-one-quarter" target="_blank" rel="noopener">Climate Change Has Cost China $32 Billion in Just One Quarter</a></h4> <h4><a href="https://www.asiafinancial.com/emissions-of-worlds-super-rich-drive-economic-losses-deaths" target="_blank" rel="noopener">Emissions of World’s Super Rich ‘Drive Economic Losses, Deaths’</a></h4> <h4><a href="https://www.asiafinancial.com/energy-emissions-set-to-peak-but-not-in-time-for-climate-goals" target="_blank" rel="noopener">Energy Emissions Set to Peak But ‘Not in Time’ For Climate Goals</a></h4> <h4><a href="https://www.asiafinancial.com/bp-dumps-oil-pledge-while-chasing-billions-in-climate-subsidies" target="_blank" rel="noopener">BP Dumps Oil Pledge While Chasing Billions in Climate Subsidies</a></h4> <h4><a href="https://www.asiafinancial.com/scientists-fear-natures-carbon-sinks-are-failing-guardian" target="_blank" rel="noopener">Scientists Fear Nature’s Carbon Sinks Are Failing – Guardian</a></h4> <h4><a href="https://www.asiafinancial.com/could-melting-glaciers-trigger-volcanic-eruptions-reuters" target="_blank" rel="noopener">Could Melting Glaciers Trigger Volcanic Eruptions? – Reuters</a></h4> <p> </p> <p> </p> <div class="tags"> Tags: <a href="https://www.asiafinancial.com/tag/carbon" rel="tag">Carbon</a><a href="https://www.asiafinancial.com/tag/carbon-footprint" rel="tag">Carbon Footprint</a><a href="https://www.asiafinancial.com/tag/china-climate" rel="tag">China Climate</a><a href="https://www.asiafinancial.com/tag/climate-change" rel="tag">Climate Change</a><a href="https://www.asiafinancial.com/tag/emissions" rel="tag">Emissions</a><a href="https://www.asiafinancial.com/tag/global-warming" rel="tag">Global Warming</a><a href="https://www.asiafinancial.com/tag/paris-climate-agreement" rel="tag">Paris Climate Agreement</a> </div> <div class="author-box"> <div class="profile_images"><img width="96" height="96" src="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg" class="avatar avatar-96 photo imgauthor" alt="" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg 96w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-300x300.jpg 300w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-150x150.jpg 150w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-768x768.jpg 768w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-24x24.jpg 24w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-48x48.jpg 48w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4.jpg 1000w" sizes="100vw" /></div> <div class="author-content"> <h3><a href="https://www.asiafinancial.com/author/vishakha-saxenaasiafinancial-com">Vishakha Saxena </a></h3> <p style="font-size: 14px;"> Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. 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'+' : '') + percentChange.toFixed(2) + '%', isPositive: isPositive, currentLevel: datum.level_T, previouLevel: datum.level_T_minus_1, }); counter++; } //jQuery("#top-list ul").append(headstr + '<li><a href="https://www.marketaxess.com/?utm_source=Asia_Times_Financial&utm_medium=Logo_Sponsorship&utm_campaign=ALM" target="_blank"><img src="https://www.asiafinancial.com/wp-content/uploads/2021/05/logo-market-access.jpg"></a></li>'); jQuery("#top-list ul").append(headstr); //jQuery("#top-list-mobi ul").append(mobistr + '<li><a href="https://www.marketaxess.com/?utm_source=Asia_Times_Financial&utm_medium=Logo_Sponsorship&utm_campaign=ALM" target="_blank"><img src="https://www.asiafinancial.com/wp-content/uploads/2021/05/logo-market-access.jpg"></a></li>'); jQuery("#top-list-mobi ul").append(mobistr); //return parsedData; } function populateContent(data) { const containerEl = document.querySelector( "section.marquee .marquee-items" ); for (var index of data) { // Create HTML elements var indexEl = document.createElement("li"); indexEl.classList.add("marquee-item"); indexEl.classList.add(index.isPositive ? 'marquee-item-positive' : 'marquee-item-negative'); var nameEl = document.createElement("div"); nameEl.classList.add("marquee-item-name"); nameEl.innerText = index.name + ' (' + index.key + ')'; var valueEl = document.createElement("div"); valueEl.classList.add("marquee-item-value"); valueEl.innerText = index.formattedLevel; var changeEl = document.createElement('div'); changeEl.classList.add('marquee-item-change') changeEl.innerText = index.formattedChange + ' (' + index.formattedPercentChange + ')'; // Append HTML elements to the DOM containerEl.appendChild(indexEl); indexEl.appendChild(nameEl); indexEl.appendChild(valueEl); indexEl.appendChild(changeEl); } } // Repeat elements and animate function animate() { const sections = document.querySelectorAll( "section.marquee:not([data-animation-started])" ); for (let section of sections) { section.dataset.animationStarted = true; const content = section.querySelector(".marquee-content"); const list = content.children[0]; // Clone and append list items n times. const n = 10; const l = list.children.length; for (let i = 0; i < l * n; i++) { list.appendChild(list.children[i % l].cloneNode(true)); } setTimeout(() => { const speed = 0.04; // px/ms const distance = section.scrollWidth; const duration = distance / speed; const animation = content.animate( [ // keyframes { transform: "translateX(0px)" }, { transform: `translateX(-${distance}px)` } ], { // timing options duration: duration, iterations: Infinity } ); section.onmouseenter = () => animation.pause(); section.onmouseleave = () => animation.play(); }, 50); } } })();</script> <script type="text/javascript"> $( '.cmn-mobile-switch' ).click( function() { $( '.tt-mobile-block' ).toggleClass( 'active' ); $( '#content-wrapper' ).toggleClass( 'active' ); return false; } ); $( '.tt-mobile-close' ).click( function() { $( '.tt-mobile-block' ).toggleClass( 'active' ); $( '#content-wrapper' ).toggleClass( 'active' ); return false; } ); </script> </body> </html>