Data on Carbon Emissions

Table of Contents

Context

According to a Global Carbon Project study, Global fossil-based CO2 emissions are projected to reach 37.4 billion tonnes in 2024, marking a 0.8% increase from 2023.

Key facts of the study

India’s CO2 emissions from fossil fuels are expected to rise by 6% in 2024, the highest among major economies.
The largest contributions to global fossil CO2 emissions were China (31%), the USA (13%), India (8%), and the European Union (7%) in 2023.
- These four regions account for 59% of global fossil CO2 emissions, while the rest of the world contributed 41%
Carbon sinks (oceans and land) continue to absorb a significant amount of CO2, but their effectiveness is impacted by climate change.
Carbon Budget: It is the maximum amount of carbon dioxide (CO2) that can be emitted by human activities while limiting global warming to a specified level.

Global Carbon Project (GCP)

It is a leading international scientific initiative that aims to provide accurate and up-to-date information on the carbon cycle and its implications for global climate change.
It was established in 2001.
It publishes global budgets for three major greenhouse gases — carbon dioxide, methane and nitrous oxide.