Global CO2 emissions to break all records in 2024: Report

A new report released during the UN's COP29 climate summit reveals that global carbon dioxide emissions are projected to reach a record 41.6 billion metric tons in 2024. This increase pushes the world further away from its goal of limiting global warming to 1.5 degrees Celsius.

The report, titled the Global Carbon Budget, attributes the majority of emissions to the burning of fossil fuels like coal, oil, and gas. These emissions are expected to reach 37.4 billion tons in 2024, a 0.8% increase from 2023. Land use, including deforestation and forest fires, contributes to the remaining emissions.

"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.

The report, a collaboration of over 80 institutions led by the University of Exeter, highlights the urgency of reducing emissions. Without immediate and significant action, Friedlingstein warns, "we will just go straight into the 1.5C target, we'll just pass it and continue."

The Paris Agreement, signed in 2015, committed countries to limit global temperature rise to well below 2 degrees Celsius, preferably 1.5 degrees Celsius, compared to pre-industrial levels. This target requires significant annual reductions in emissions. However, the report shows that fossil fuel emissions have increased over the past decade.

While land use emissions initially declined, this year saw a surge due to severe droughts in the Amazon rainforest, leading to increased forest fires.

The report does offer a glimmer of hope, noting progress in some countries expanding renewable energy and electric vehicle use. However, it emphasizes that progress remains uneven, with emissions decreasing in industrialized nations and rising in emerging economies.