Fossil Fuel Emissions to hit New Record in 2024

Nations gathering in Azerbaijan for crunch U.N. climate talks have pledged to "transition away" from fossil fuels and aim to limit global warming to 1.5 degrees Celsius above preindustrial times.

But oil, gas, and coal emissions continue to rise, according to the new findings from an international network of scientists at the Global Carbon Project.

The research found that to keep the 1.5C target in sight, the world would now need to reach net-zero CO2 emissions by the late 2030s—far earlier than most countries currently plan.

While scientists said renewable power and electric vehicles are helping to displace some fossil fuels, growth in emissions from gas and oil pushed global fossil fuel emissions higher this year.

Glen Peters, research director at the Center for International Climate Research in Oslo, said the world was "frustratingly close" to a peak in its fossil fuel emissions.

"Renewables are growing strongly, electric vehicles are growing strongly, but still it's just not enough," he told reporters, adding that any peak in emissions would only be ascertained after several years of data.  

The preliminary findings show global CO2 emissions from fossil fuels rising 0.8 percent in 2024 compared to last year, reaching a record of 37.4 billion metric tons.

The research is based on monthly figures and projections to the end of the year and could therefore be slightly higher or lower than the current estimates.

Leaders defend fossil fuels at COP29

But some leaders at the COP29 summit defended fossil fuels and their right to exploit them.

In his opening address as host, Azerbaijani President Ilham Aliyev said his country and other oil and gas producers were not to blame.

"Quote me that I said that this is a gift of God, and I want to repeat it today," Aliyev told delegates in a stadium near the Caspian Sea.

"Oil, gas, wind, sun, gold, silver, copper, all... are natural resources, and countries should not be blamed for having them and should not be blamed for bringing these resources to the market, because the market needs them."

Aliyev slammed many Western countries that continue to rely on fossil fuels while attempting to persuade those who produce them to switch to greener energy sources.

"Unfortunately, double standards, a habit to lecture other countries, and political hypocrisy became kind of modus operandi for some politicians, state-controlled NGOs and fake news media in some Western countries," he said.

Hungarian Prime Minister Viktor Orban also defended fossil fuels and said industry should not suffer in the fight against climate change.

"We must continue advancing the green transition while also maintaining our use of natural gas, oil, and nuclear energy," he said.

Alex Rafalowicz from the Fossil Fuel Non-Proliferation Treaty Initiative said countries were not at fault for having natural resources, "but they are responsible for the threat they pose to humanity by extracting them from the ground."

Source: HDN