Global carbon dioxide emissions are projected to hit a historic high of 41.6 billion metric tons in 2024, according to the Global Carbon Budget report released at COP29 in Azerbaijan. The increase underscores the world’s failure to curb emissions from fossil fuels, deforestation, and forest fires, threatening efforts to limit global warming to 1.5°C under the Paris Agreement.

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• Global CO2 emissions to rise from 40.6 billion tons (2023) to 41.6 billion tons (2024).
• Fossil fuel emissions, making up the bulk, to increase by 0.8% to 37.4 billion tons.
• Land use emissions surged by 13.5% due to Amazon drought-induced fires.
• Emissions cuts critical to limit global warming below 1.5°C target remain insufficient.
• U.S. and EU emissions projected to fall by 0.6% and 3.8%, respectively, in 2024.
• India’s emissions to grow 4.6%, driven by rising power demand and economic growth.
• China’s emissions rise marginally (0.2%), with oil use likely peaked due to EV adoption.
• Emissions from aviation and shipping expected to jump by 7.8%, post-COVID recovery.
• Report highlights uneven progress in transitioning to renewable energy globally.
• Tensions at COP29 over responsibility for leading the fossil fuel phase-out persist.