Growth in global carbon emissions slowed in 2019

04/12/2019 08:56 CO2

news

A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Wednesday.

The report, launched at a U.N. climate summit in Madrid, showed that growing appetite for oil and gas meant the world was still far from achieving the drastic reductions in greenhouse gas emissions needed to avert catastrophic global warming.

 

Nevertheless, coal use fell sharply in the United States and Europe, helping slow the projected growth in carbon dioxide emissions to 0.6% in 2019 compared with 2.1% the previous year.

 

Slower growth in demand in China, which burns half the world’s coal, and India, combined with overall weaker economic growth, also helped slow the upward march of emissions, said the report, known as the Global Carbon Budget 2019.

 

Peters added that global C02 emissions from fossil fuels were likely to be more than 4% higher in 2019 than in 2015, the year when the Paris Agreement to tackle climate change was adopted.

Source: reuters.com

Covid-19 crash to speed green shift for oil firms – analysts

01/04/2020 10:50:00

The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.

<READ MORE

PGE posts 80% rise in 2019 wholesale power sales

01/04/2020 10:45:00

Polish utility PGE sold 61.4 TWh of output on power exchange TGE and the balancing market in 2019, up 80% from the pervious year, the company said late on Tuesday.

READ MORE

Daily (31.03.2020): Oil prices plummeted to 18-year lows on Monday as demand suffers an unprecedented decline

31/03/2020 10:51:00

Crude oil prices crashed to fresh 18-year lows on Monday as growing fears over the coronavirus pandemic eroded demand, while the Saudi Arabia-Russia price war threatened to overload the market. Brent crude collapsed by 8.7% to close at $22.76 a barrel, the lowest settlement since November 2002. Meanwhile, the U.S. WTI crude plunged by 6.6% to end at $20.09 a barrel.

READ MORE