Economy grows as Carbon dioxide emissions drop, making mockery of Trump climate policy

Energy-related CO2 emissions 1980-2016- 460

For the first time, the United States produced more electricity from natural gas than from coal past year.

The world must swiftly shift energy production away from fossil fuels if it is to prevent a risky increase in global temperatures, according to separate reports released Monday by two worldwide agencies.

The report, undertaken in partnership with the International Renewable Energy Agency, said the move to reduce global greenhouse gases could hold "significant consequences for the energy industry" if companies fail to adapt their portfolios in the wake of the Paris Agreement.

In a separate important development, both the United States and China, the two largest energy users in the world, saw declines in energy-related emissions.

CO2 emissions declined most in the USA and China - the world's two largest energy users and emitters - mitigating increases in most of the rest of the world, while in Europe they remained stable.

In 2016, global emissions from the energy sector reached 32.1 billion tonnes - the same as the figures for 2015 and 2014 - while the global economy grew 3.1 per cent in 2016.

In 2016, China was the world's largest solar market, adding a remarkable 34.2 GW an increase of over 125 per cent compared to the previous year.

"That is certainly a cause for optimism, even if it is too soon to say that global emissions have definitely peaked", Birol said. The International Energy Agency report In the IEA report, they say that in order to ensure at least a two-thirds chance of keeping global temperatures below the 2.0 degree Celsius mark, "would require an unparalleled ramp up of all low-carbon technologies in all countries". "This is especially true in the United States, where abundant shale gas supplies have become a cheap source of power".

In the UK, CO2 emissions fell by 5.8 per cent in 2016, after coal use fell a record 52 per cent - according to the Carbon Brief.

"Perspectives for the Energy Transition: Investment Needs for a Low-Carbon Energy Transition" - said an additional $29 trillion would be needed to 2050 to decarbonise the energy sector, but this amounts to only 0.4% of global GDP. "While the pause in emissions growth is positive news to improve air pollution, it is not enough to put the world on a path to keep global temperatures from rising above 2°C".

To achieve decarbonisation, the report said that, by 2050, renewables should be 80% of power generation and 65% of total primary energy supply.

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