Capitalism 1 vs CO2 Emissions 0: Global CO2 emissions stall for first time in 40 years as economy grows

The growth in global carbon emissions in 2014 was flat for the first time in 40 years, even though economic growth was at 3 percent, said the International Energy Agency (IEA). China’s shift to clean energy was a key driver behind the improvement.

Capitalism 1 vs CO2 Emissions 0: Global CO2 emissions stall for first time in 40 years as economy grows Carbon-emissions-economy-energy.si

Capitalism 1 vs CO2 Emissions 0: Global CO2 emissions stall for first time in 40 years as economy grows Carbon-emissions-economy-energy.si

Global greenhouse gas emissions didn’t rise in 2014, according to the IEA data. The CO2 emissions were 32.3 billion tons in 2014 the same as in 2013.

"This is a real surprise. We have never seen this before," the IEA chief economist, Fatih Birol, and incoming executive director, told the Financial Times.

This is not the first time the growth of emissions fell or stopped rising. Previously this was led by a significant economic downfall when lower energy demand led to production slowdowns at factories and power plants. The US recession in the early 1980s, the collapse of the Soviet Union in 1992 and the 2009 global financial crisis are the major occasions in four decades when the growth of global emissions has stalled.

However, the global economy grew 3 percent last year, and with it a growing world demand for fossil fuels. The share of fossil fuels within the world energy supply has been relatively unchanged over the past 41 years, at around 80 percent, according to the IEA. World energy demand for fossil fuels plays a key role in the upward trend in global CO2 emissions; lately the world has seen a significant shift towards cleaner renewable energy. China, the world’s biggest carbon emitter, has significantly cut its coal production, which has been determined by the IEA as one of the major reasons for the global carbon emissions’ stall last year.

Wealthy OECD countries have also shifted towards renewables, setting stricter energy standards to separate economic growth from increasing emissions. Their economies grew nearly 7 percent while emissions fell 4 percent over the last 5 years, the IEA reports.

More: http://rt.com/business/240345-carbon-emissions-economy-energy/

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Capitalism 1 vs CO2 Emissions 0: Global CO2 emissions stall for first time in 40 years as economy grows

Capitalism 1 vs CO2 Emissions 0: Global CO2 emissions stall for first time in 40 years as economy grows

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