Global carbon emissions reached a record level in 2017

23/03/2018 14:14 CO2


The global energy demand increased by 2.1% last year, leading to a hike in carbon emissions for the first time since 2014, according to IEA. The statistics show that CO2 level jumped more than twice compared to 2016.

That happened because of strong global economic growth, with oil, gas and coal being responsible for 70% of the growth and renewables accounting for almost all of the rest.

Improvements in energy efficiency weakened, which contributed to a surge in global energy-related carbon emissions by 1.4% in 2017, after three years of being stable.

Carbon emissions hit a historical peak of 32.5 gigatonnes but it did not raise everywhere, while most big economies witnessed a hike, the US, UK, Mexico and Japan experienced declines, with the most extensive decline registered in the US for higher renewables deployment.

IEA Executive Director Dr Fatih Birol declared: “The significant growth in global energy-related carbon dioxide emissions in 2017 tells us that current efforts to combat climate change are far from sufficient. For example, there has been a dramatic slowdown in the rate of improvement in global energy efficiency as policymakers have put less focus in this area.”

Daily (12.10.2018): NBP spot price plummeted by almost 9% on Thursday, due to an oversupplied system

12/10/2018 11:24:00

Oil crude prices ended lower on Thursday, following a drop in global stock markets, as the Dow Jones took its biggest plunge since February on Wednesday. Moreover, the investor sentiment was affected by an industry report, which revealed an unexpected rise in U.S. crude oil supply. Consequently, the WTI crude closed 3% down at $70.97 a barrel, while Brent oil fell by 3.4% to $80.26 a barrel. 


Solar power ‘will help Europe avoid blackouts’

12/10/2018 09:33:00

Solar power will prove an important technology in stopping power outages across Europe in coming years.


Gas pipeline project is one of top priority projects for EU – Minister Joe Mizzi

12/10/2018 09:29:00

The Malta-Sicily gas pipeline is one of the top priority projects for the EU as it aims at ending Malta’s gas isolation, said Minister for Energy and Water Management Joe Mizzi during the World Energy Summit currently being held in Milan, Italy.