Insights from the IEA’s 2023 Emissions Report

The Growth of our Emissions

In 2023, emissions grew by 410 million tonnes, marking a 1.1% increase and bringing the total to an unprecedented 37.4 billion tonnes.¹ This rise, however, was notably less than the increase observed in 2022. A significant driver behind this trend was the exceptional drought conditions experienced across various global regions, including China and the United States, which severely impacted hydropower generation. As a result, there was an increased reliance on fossil fuels to compensate for the energy shortfall, contributing over 40% to the year’s emissions rise.²

The Leading Forces in Cutting Emissions

Despite these challenges, the continued expansion of clean technologies such as solar photovoltaic (PV) systems, wind energy, nuclear power and electric vehicles has been instrumental in curbing the demand for fossil fuels. Without these clean energy advancements, the IEA notes, the increase in global CO2 emissions over the last five years would have been threefold.³

The findings stem from the IEA’s annual update on global energy-related CO2 emissions and the inaugural edition of the Clean Energy Market Monitor. The latter provides an updated overview of clean energy deployment across a select group of technologies, shedding light on their implications for global energy markets.

A notable success story comes from advanced economies, where a record fall in CO2 emissions was registered in 2023, even amidst economic growth. These regions witnessed their emissions plummet to a 50-year low, with coal demand receding to levels last seen in the early 1900s.⁴ This decline is attributed to robust renewable energy deployment, a shift from coal to gas, improvements in energy efficiency and a decrease in industrial production.

IEA Executive Director Fatih Birol highlighted the resilience of the clean energy transition, which has withstood various global crises over the past five years.⁵ He emphasised the importance of enhancing efforts to enable emerging and developing economies to scale up clean energy investments to continue this positive trend.

The report also underscores the disproportionate concentration of clean energy deployment in advanced economies and China. In 2023, these regions accounted for the vast majority of new solar PV and wind power installations, as well as electric vehicle sales, highlighting a significant disparity in global clean energy adoption.

Conclusion

The IEA’s comprehensive analysis serves as a crucial reminder of the ongoing need for robust international collaboration and policy support to ensure an equitable and effective clean energy transition. As the world continues to grapple with the challenges of climate change, the advancement of clean energy technologies remains a beacon of hope in the quest to curb global emissions and pave the way for a sustainable future.