Greenhouse gas emissions plunge along with economy
Global financial crisis has a silver lining in the form of reduced greenhouse gas emissions, according to new study.
By Stephanie RogersMon, Sep 21 2009 at 12:28 PM EST
Photo: Taras Kalapun/Flickr The international economic recession has led to the steepest drop in greenhouse gas emissions in 40 years, according to a new study by the International Energy Agency. Emissions fell by approximately 2.6 percent, an ‘unprecedented’ decline that the IEA highlights as a chance to get a leg up on the fight against climate change.
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Falling industrial output is the biggest factor in the drop, but carbon trading schemes and lack of financing for new coal-fired power plants have also played a role. Europe’s target to cut emissions by 20 percent by 2020, China’s energy efficiency policies and U.S. car emission standards are cited as having a particularly notable effect.
This year’s decline in emissions will well exceed the 1.3 percent drop that followed the oil crisis in 1981.
The new data will play a role in discussions among world leaders at the climate change conference in Copenhagen this December, as they attempt to agree upon a new climate pact to replace the Kyoto Protocol for 2012.
The IEA figures also come as leaders prepare to gather in New York Tuesday for a one-day climate change summit held by Ban Ki-moon, secretary general of the United Nations.
Fatih Birol, IEA chief economist, called the drop “surprising” and predicts that it will make efforts to achieve the emissions reductions that experts say are necessary to combat global warming “much less difficult”.
However, he noted that the fall in emissions will only be meaningful with an agreement in Copenhagen that provides a low-carbon signal to investors.
“We hope that an agreement in Copenhagen would give a signal for new investments to go in [an environmentally] sustainable direction. If we miss this opportunity it will be much more expensive and harder than ever to bring the world’s energy system onto a sustainable path,” Birol told The Financial Times.
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Comments
Edouard Stenger
09/24/2009 07:11 AM
> Spencer : As I read in the New York Times the study will be released in November.
This occurs as the United States emissions decreased by nine percent for the past two years. Sure the recession is an important factor, but rising renewable energies use is also a factor, like higher oil prices...
Spencer Goldade
09/23/2009 20:23 PM
I read the tagline of the news post, about emissions plunging, but I wasn't able to find any numbers to coincide with that? Unless you meant the 2.6%, in which case I feel someone is confused. This hardly feels like progress or something to be happy over. We should be doing much better than 2.6.
Its like everyone cheering about our first African American President in the USA; they shouldn't have to cheer, because it should have never been a problem. We're sophisticated enough now.... More
