Energy & Environment

Global carbon dioxide emissions from fossil fuels and industry totaled 37.01 billion metric tons (GtCO₂) in 2023. Emissions are projected to have risen 1.08 percent in 2024 to reach a record high of 37.41 GtCO₂. Since 1990, global CO₂ emissions have increased by more than 60 percent.

The biggest contributor to global GHG emissions is China, followed by the United States. China wasn't always the world's biggest emitter, but rapid economic growth and industrialization in recent decades have seen emissions there soar. Since 1990, CO₂ emissions in China have increased by almost 450 percent. By comparison, U.S. CO₂ emissions have fallen by 6.1 percent. Nevertheless, the North American country remains the biggest carbon polluter in history. 

The outbreak of COVID-19 caused global CO₂ emissions to plummet some 5.5 percent in 2020 as a result of lockdowns and other restrictions. However, this wasn't the only time in recent history when a major global event caused emissions reductions. For example, the global recession resulted in CO₂ levels to fall by almost two percent in 2009, while the recession in the early 1980s also had a notable impact on emissions. On a percentage basis, the largest annual reduction was at the end of the Second World War in 1945, when emissions decreased by 17 percent.

The power industry is the largest contributor to global fossil carbon dioxide emissions by far. In 2023, power industry emissions increased by 1.6 percent to a record high of 14.9 billion metric tons of carbon dioxide (GtCO₂). This accounted for roughly 38 percent of global CO₂ emissions.

China is the world's biggest power sector emitter. In 2023, Chinese power plants, the majority of which are coal-fired, released 5.5 GtCO₂ into the atmosphere. China's power sector emissions have risen five-fold since 2000, owing to the country's rapid economic growth. In comparison, power sector emissions in the U.S. - the sector's biggest emitter at the turn of the century - have fallen by almost 30 percent since 2000. 

The power sector is a major source of emissions due to coal being the most used source for electricity generation worldwide. Coal is the dirtiest of fossil fuels, and emits roughly twice as much CO₂ as natural gas when combusted. Coal-fired power accounts for almost 70 percent of global power sector emissions.

China is the largest consumer of primary energy in the world, using some 170.7 exajoules in 2023. This is a lot more than what the United States consumed, which comes in second place. The majority of primary energy fuels are still derived from fossil fuels such as oil and coal.

China’s primary energy mix has shifted from a dominant use of coal to an increase in natural gas and renewable sources. Since 2012, the renewables share in total energy consumption has grown by around eight percentage points. Overall, global primary energy consumption has increased over the last decade, but it is expected to experience the largest growth in emerging economies like the BRIC countries - Brazil, Russia, India, and China. 

Primary energy is the energy inherent in natural resources such as crude oil, coal, and wind before further transformation. For example, crude oil can be refined into secondary fuels, such as gasoline or diesel, while wind is harnessed for electricity - itself a secondary energy source. A country’s total primary energy supply is a measure of the country’s primary energy sources. Meanwhile, end use energy is the energy directly consumed by the user and includes primary fuels such as natural gas, as well as secondary sources, like electricity and gasoline.

In 2023, the price of natural gas in Europe reached 13.1 constant U.S. dollars per million British thermal units, compared with 2.5 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe.

What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached 22 percent.

How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 35 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

The leading countries for installed renewable energy in 2023 were China, the U.S., Brazil. China was the leader in renewable energy installations, with a capacity of around 1,453 gigawatts. The U.S., in second place, had a capacity of around 388 gigawatts. Renewable energy is an important step in addressing climate change and mitigating the consequences of this phenomenon. 

Renewable Energy Capacity

Renewable power capacity is defined as the maximum generating capacity of installations that use renewable sources to generate electricity. Recent data suggests that renewable energy as a share of the world’s power production is increasing. Renewable energy consumption varies from country to country. The top countries for renewable energy consumption are China, United States, and Brazil, respectively.

Types of Renewable Energy

There are various types of renewable energy sources used globally including, bioenergy, solar energy, hydropower, and geothermal energy, to name a few. Globally, China and Canada are the top two countries in terms of generating the most energy through hydropower. Geothermal energy has been on the rise as well. Data shows an increase in geothermal energy capacity globally in the last 10 years . Likewise, there has been a dramatic increase in the capacity of global solar energy in recent years.

E-waste generation worldwide has nearly doubled since 2010, from 33.8 million metric tons to roughly 62 million tons in 2022. Electronic waste is one of the fastest growing waste streams, with global e-waste generation projected to reach 82 million metric tons by 2030.

What makes up electronic waste? In 2022, small equipment, such as vacuum cleaners, microwaves, toasters, and electric kettles made up the largest share of global electronic waste generation, at more than 20.4 million metric tons. Another 15 million metric tons of large equipment waste was also generated that year. Although still accounting for less than one percent of e-waste generated worldwide, the growth in solar PV capacity worldwide has seen photovoltaic panels as a growing waste stream.

Where is electronic waste generated? China is by far the largest e-waste generating country worldwide, with more than 12 million metric tons generated in 2022. In fact, Asia accounted for nearly half of all e-waste generated that year. Nevertheless, when it comes to e-waste generation per capita, four of the top five countries were located in Europe, with Norway leading the ranking at 26.8 kilograms per inhabitant.

In 2023, Germany was the world's largest plastic waste exporter, with shipments totaling over 693 thousand metric tons. The UK ranked second that year, with exports amounting to some 615 thousand tons. Seven out of the top 10 plastic exporters that year were located in Europe.

In 2022, global plastic exports were estimated at some four million metric tons, the lowest figure recorded in over a decade. Exports have decreased significantly in the past decade, from more than 15 million metric tons in 2010. This was a result of stricter regulations on the quality of waste allowed to be exported and the imposition of a series of import bans across the world - the latter mainly in Asian countries who historically received the bulk of global plastic waste exports.

Nowadays, plastic waste flows are mostly intraregional. Since China’s ban on plastic waste imports in 2018, Turkey has emerged as the leading destination for plastic waste exports form the European Union, receiving some 315 thousand metric tons in 2023. Meanwhile, plastic waste exports from Japan – the third largest exporter worldwide - were mainly directed to Malaysia and Vietnam. Globally, the Netherlands and Turkey were the largest plastic waste importers in 2023.

The Petrobras Santos Basin Pre-Salt Oil Field CCS in Brazil had a carbon capture and storage capacity of 10.6 million metric tons of carbon dioxid per year (Mtpa CO₂) as of July 2024. The capacity of operational CCS facilities around the world was around 50 Mtpa CO₂ in 2024. The most operational CCS facilities are located in the U.S.

The average selling price of a metric ton of carbon dioxide removal (CDR) varies greatly by method. In 2023, the average price for CDR by Direct Ocean Removal (DOC) was roughly 1,402 U.S. dollars per metric ton, a 42 percent increase from the previous year. In comparison, the average price for Direct Air Capture (DAC) fell by almost 43 percent in 2023, to 715 U.S. dollars per metric ton of carbon removal.

Iceland has the cleanest waters across Europe, having received an index score of 86.07 points in 2023. Other European countries with scores above 80 points that year were Finland and Slovenia. Outside of Europe, Canada held a score of 88.75 points, topping the list of the cleanest waters worldwide.