However, this would still only represent 40% of the investment needed in the IEA’s Sustainable Recovery Plan, which is aligned with a pathway towards reaching net zero emissions by 2050 globally.Ĭlean energy provisions in the recovery packages of several major economies have contributed somewhat to mitigating the near-term rebound in emissions, largely where low-carbon programmes were already in place and could channel the additional support quickly.
Looking at the crucial 2021-2023 period, measures to date could mobilise around USD 400 billion a year in clean energy and sustainable recovery investment. The IEA’s Sustainable Recovery Tracker has shown that as of October 2021, USD 470 bilion had been earmarked for sustainable measures within recovery packages through 2030. Nonetheless, certain advanced economies have emphasised decarbonisation measures in their economic recovery. With carbon-intensive growth reminiscent of 2010, the global economic recovery from the Covid-19 crisis has not been the sustainable recovery that IEA Executive Director Fatih Birol called for at the onset of the pandemic in 2020. Energy-related CO2 emissions grew to 36.3 Gt in 2021, a record high This marks the strongest coupling of CO 2 emissions with Gross domestic product (GDP) growth since 2010, when global emissions rebounded by 6.1% while economic output grew by 5.1% as the world emerged from the Global Financial Crisis. The 6% increase in CO 2 emissions in 2021 was in line with the jump in global economic output of 5.9%. CO 2 emissions in 2021 rose to around 180 megatonnes (Mt) above the pre-pandemic level of 2019. The rebound in 2021 more than reversed the pandemic-induced decline in emissions of 1.9 Gt experienced in 2020.
This puts 2021 above 2010 as the largest ever year-on-year increase in energy-related CO 2 emissions in absolute terms. The recovery of energy demand in 2021 was compounded by adverse weather and energy market conditions, which led to more coal being burnt despite renewable power generation registering its largest ever annual growth.Įmissions increased by almost 2.1 Gt from 2020 levels. However, the world has experienced an extremely rapid economic recovery since then, driven by unprecedented fiscal and monetary stimulus and a fast – although uneven – roll-out of vaccines. The Covid-19 pandemic had far-reaching impacts on energy demand in 2020, reducing global CO 2 emissions by 5.2%. A 6% increase from 2020 pushed emissions to 36.3 gigatonnes (Gt), an estimate based on the IEA’s detailed region-by-region and fuel-by-fuel analysis, drawing on the latest official national data and publicly available energy, economic and weather data. Global CO 2 emissions from energy combustion and industrial processes 1 rebounded in 2021 to reach their highest ever annual level.
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