In a wake-up call, India’s Green House Gas emissions rose by whopping 4.7% in 2016. The new data records global CO2 emissions rising by 0.3% in 2016, from 0.2% in 2015 – the slowest rise since 90s – as a result of a shift from coal to natural gas, solar and wind power. India remains one of the few big emitters investing more in coal, as its consumption rose by 4%.
Russia and the US managed to cut emissions by 2% each, Japan by 1.3% and Brazil and the UK by over 6% each. China’s and EU’s emissions saw no change from 2015.
In 2016, CO2 emissions have practically remained stagnant, while non-CO2 GHG emissions have increased. There is little clarity on how sustainable it is to keep carbon emissions static, and how near the tipping point in terms of climate disaster is.
Emissions set to grow 17% through 2025
Meanwhile, GHG emissions from the 25 biggest international oil and gas firms are set to grow another 17% through 2025. The new report suggests – cost wise – that the companies will get away with this, since they only stand to lose about 2% of the value of their production assets (because of the $40 per ton carbon price).