Global fossil fuel consumption and energy industry carbon emissions hit new highs.

The “Statistical Review of World Energy” recently released pointed out that while the proportion of fossil fuels in the global energy mix has slightly decreased, global consumption of fossil fuels and carbon emissions from the energy industry are expected to reach a record high in 2023. As global temperatures rise to 1.5 degrees Celsius, scientists warn that the impacts of higher temperatures, droughts, and floods will become increasingly severe beyond this threshold.

Simon Virley, a partner at advisory services firm KPMG, stated, “We might witness renewable energy making a significant contribution this year, but due to growing global energy demand, the share of fossil fuels has remained almost constant.”

A report highlights that nearly all of India’s demand growth last year came from fossil fuels, while China’s use of fossil fuels increased by 6%, reaching a new high. Additionally, China was responsible for over half of the world’s new renewable energy power generation last year. China has added more renewable energy capacity than the rest of the world combined, which is noteworthy.