• BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
FinanceTime
  • August 19th, 2026

FinanceTimeFinancetime

  • BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
A drone view shows forest fire devastation amid smoke in the Amazon, in Labrea, Amazonas state, Brazil September 6, 2024. Bruno Kelly
A drone view shows forest fire devastation amid smoke in the Amazon, in Labrea, Amazonas state, Brazil September 6, 2024. Bruno Kelly
Home
Sectors
Environment

Global CO2 emissions to hit record high in 2024, report says

November 13th, 2024 | 00:04 AM SECTORS Environment 3

Facebook Twitter Google+ LinkedIn Pinterest

Worth reading...

Ocean Race launches twin race for Atlantic glory and greenest crew
Aftershocks rattle Spain's Granada overnight
As Europe bakes, momentum grows for climate-resilient farming
China's torrential rains kill 10 in southwest as thousands evacuated 
By Kate Abnett

Global carbon dioxide emissions, including those from burning fossil fuels, are set to hit a record high this year, pulling the world further off course from averting more destructive climate extremes, scientists said on Wednesday.

The Global Carbon Budget report, published during the U.N.'s COP29 climate summit in Azerbaijan, said global CO2 emissions are set to total 41.6 billion metric tons in 2024, up from 40.6 billion tons last year.

The bulk of these 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.

The rest are from land use, a category that includes deforestation and forest fires. The report by more than 80 institutions was led by the University of Exeter in Britain.

"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.

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.

Countries agreed under the 2015 Paris Agreement to try to stop global temperatures rising more than 1.5 degrees Celsius (2.7 degrees Fahrenheit) to avoid climate change's worst impacts.

This would require steep emissions cuts every year from now until 2030 and beyond.

Instead, fossil fuel emissions have climbed over the last decade. Land use emissions had declined in this period - 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.

Some scientists have said such slow progress means the 1.5C aim can no longer realistically be met.

This year's emissions data showed evidence of some countries rapidly expanding renewable energy and electric cars, the authors said.

Progress, however, was sharply uneven - with rich industrialised nations' emissions decreasing, and emerging economies' emissions still rising.

Tensions between nations erupted on Tuesday at COP29 over who should lead the world's transition away from fossil fuels - which produce around 80% of global energy.

COP29 host Azerbaijan's President Ilham Aliyev accused Western countries of hypocrisy for lecturing others while still being major consumers and producers of fossil fuels.

Emissions in the U.S., 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%.

Meanwhile, India's emissions will rise by 4.6% this year, driven by soaring power demand fuelled by economic growth.

Emissions in China, today the world's biggest emitter and second-largest oil consumer, are set to marginally increase by 0.2%. The authors said China's emissions from oil use have likely peaked, as electric vehicles gain market share.

Emissions from international aviation and shipping are also expected to jump by 7.8% this year, as air travel continues to recover from a drop in demand during the COVID-19 pandemic.

  • Topic
  • CLIMATE
  • COP29/CARBON
  • EMISSIONS (TV, PIX)
Facebook Twitter Google+ LinkedIn Pinterest
Previous article Ocean Race launches twin race for Atlantic glory and greenest crew

Related Posts

Environment
August 19th, 2026

Ocean Race launches twin race for Atlantic glory and greenest crew

Environment
August 19th, 2026

Aftershocks rattle Spain's Granada overnight

Environment
August 19th, 2026

As Europe bakes, momentum grows for climate-resilient farming

Environment
August 19th, 2026

China's torrential rains kill 10 in southwest as thousands evacuated 

Environment
August 18th, 2026

Key border crossing between Argentina and Chile reopens after weather cl...

Environment
August 18th, 2026

Indonesia wildfires damage nearly 95,000 hectares of land in July alone,...

The Wire
Aug 19th 3 h ago
Government

DOJ argues Comey novel shows he knew ‘86 47’ post was a thr...

Aug 19th 3 h ago
Business

Fed policymakers' inflation concerns increased at July meet...

Aug 19th 4 h ago
Sports

Swiss rider Poncini dies in Manx GP qualifying

Aug 19th 4 h ago
Business

Amazon plans drone delivery expansion to about 500 US local...

Aug 19th 4 h ago
Litigation

Abbott settles appeal over $495 million infant formula verd...

TRENDING ON FINANCETIME
Aug 19th, 2026 Sports

Mets' Jorge Polanco (ankle) to have season-ending surgery

Aug 19th, 2026 Sports

Reports: Phillies sign free agent LHP Nestor Cortes

Aug 19th, 2026 Business

US CFTC seeks comment on compute derivatives as AI demand grows

Aug 19th, 2026 Technology

Payments firm Stripe to buy AI developer platform OpenRouter

Aug 19th, 2026 Government

ABC says intimidation by Trump's FCC forced programming changes

Markets-Sectors
ENERGY -0.16%
FINANCIALS -0.62%
TECHNOLOGY -1.07%

  • BUSINESS
  • MARKETS
  • WORLD
  • POLITICS
  • TECH
  • COMMENTARY
  • BREAKINGVIEWS
  • MONEY
  • LIFE
  • SECTORS
  • Back to top
FinanceTime
FinanceTime

World Business & Financial News, Breaking US & International News

Additional Services
  • Privacy-Policy
  • Terms and Conditions
© Financetime.org 2026. All rights reserved. Hosted by LeadsDeposit.com
Produced by C-iT