FOSSIL FUEL EMISSIONS TO PEAK BY 2025 BEFORE SETTLING INTO STEADY DECLINE
The inflection point for fossil fuel carbon dioxide (CO2) emissions is nigh, with emissions on track to peak by 2025, according to Rystad Energy research and analysis. On the current global pathway of announced policies, projects, industry trends and expected technological advancements, global CO2 emissions are poised to hit about 39 gigatonnes per year (Gtpa) in 2025 before settling into a steady annual decline as industries clean up their carbon footprint.
Emissions hit a record high in 2022 as countries scrambled to secure reliable, affordable fuel for power generation on the back of Russia’s invasion of Ukraine. As a result, many turned to more carbon-intensive fuels as a short-term solution to their energy security crises, reviving mothballed coal plants and prioritizing gas over cleaner alternatives. While these fuels will still have a role to play in the global economy for decades to come, the broader push towards a cleaner future is showing no signs of slowing down.
As a sign of things to come, direct CO2 emissions – carbon dioxide originating from fossil fuel combustion at the plants worldwide – from power and heat generation will peak this year. The decline will be minimal initially before gathering momentum in the coming years, becoming a significant factor behind the decrease in total CO2 emissions from all sectors by 2025.
(Source and image: Rystad Energy)