Along with the global rollout of electric vehicles and the widespread use of various renewable energy sources, there are signs of a significant drop in CO2 emissions this year. emissions in 2022 thanks to electric vehicles and clean energy, according to a new report from the International Energy Agency (IEA).
Global carbon dioxide (CO2) emissions rebounded sharply last year as economic activity picked up after a strict embargo during the pandemic. Historic government stimulus and the rapid rollout of vaccines reignited the global economy and put it into overdrive.
The global economy grew by 5.9 percent as people returned to their daily lives. Meanwhile, pandemic-induced supply chain bottlenecks persisted, driving commodity prices higher and in turn pushing inflation to multi-decade highs.
Energy prices, such as natural gas and oil, rose the most due to limited production capacity and surging demand. Higher oil and natural gas prices have led to greater reliance on coal, a major source of CO2 emissions.
So far, 2022 is a year of transition as government leaders around the world work to reduce reliance on carbon-emitting fossil fuels. Renewable energy covers the first half of the growth in global electricity demand. In addition, electric vehicle sales are expected to account for 13 percent of total global light vehicle sales after doubling in 2021.
Despite the looming energy crisis, historic growth in electric vehicle deployment and renewable energy use is working to reduce global reliance on fossil fuels and cut CO2 emissions, according to a new IEA analysis.
