Global CO2 Emissions Reach Record High in 2024

The Global Carbon Budget 2024 reveals that global CO2 emissions from fossil fuels have reached a record high of 37.8 gigatonnes, marking a 1.3% increase from the previous year. This growth exceeds the average annual increase observed between 2010-2019 of 0.8%, raising serious concerns about meeting Paris Agreement targets.

The report highlights that just 36 companies are responsible for over half of all global fossil fuel emissions. State-owned enterprises, particularly in China and the Middle East, continue to expand production despite climate commitments.