BAKU, Azerbaijan, February 22. Global fossil fuel carbon dioxide (CO2) emissions are expected to reach their record-high by 2025, Trend reports via Rystad Energy, independent energy research and business intelligence company from Norway.
"Initially, the decline will be minimal and then gain momentum in the coming years, becoming a significant factor in reducing total CO2 emissions in all sectors by 2025," the analysis said.
According to the current global scenario of announced policies, projects, industry trends and expected technological developments, global CO2 emissions could reach about 39 gigatons per year (Gtpa) in 2025 before moving to a sustainable annual decline as how industries are reducing their carbon footprint.
"Peak fossil fuel CO2 emissions within the next two years is an outstanding global achievement, exceptional when considering the current supply chain roadblocks and the high focus on energy security. If the industry can maintain this momentum, global warming of less than 2 degrees Celsius is within reach," Artem Abramov, Head of clean tech research at Rystad Energy, said.
Rystad Energy noted that the decarbonization picture differs across regions, and key contributors of emissions are expected to play diverging roles in the coming years.
"For instance, Europe, the US and China are on track to reduce fossil CO2 emissions by 24 percent, 18 percent and 10 percent, respectively, by 2030. Europe and the US are on a path to structurally decarbonize their economies, leaning into newly implemented clean technology and low carbon policies from 2025 onwards," the report said.