HomeNewsOpinionFossil fuel emissions may peak in two years but the fight against climate change is just beginning

Fossil fuel emissions may peak in two years but the fight against climate change is just beginning

Fossil fuel pollution is declining faster than anyone anticipated. But far older practices like cutting down forests, livestock and crop farming account for a significant chunk of emissions too

February 28, 2023 / 10:37 IST
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An aerial view of palm oil plantations in Merang during an aerial tour of the Sumatran forest taken by Greenpeace and South Sumatra Governor, Alex Noerdin on December 10, 2010 in District Musi Banyuasin, Palembang, South Sumatra, Indonesia. (Photo by Ulet Ifansasti/Getty Images)
An aerial view of palm oil plantations in Merang during an aerial tour of the Sumatran forest taken by Greenpeace and South Sumatra Governor, Alex Noerdin on December 10, 2010 in District Musi Banyuasin, Palembang, South Sumatra, Indonesia. (Photo by Ulet Ifansasti/Getty Images)

Did we just … win?

It’s certainly sounding that way. Emissions from fossil fuels — the key driver of global warming since the dawn of the industrial era — are set to peak within two years, according to Rystad Energy, an oil and gas consultancy. Carbon pollution from electricity, the sector with the biggest footprint, will never again hit the levels it reached last year, the International Energy Agency said February 8.

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That’s a remarkable and somewhat unexpected achievement. Predictions of large-scale decarbonisation are “the academic equivalent of science fiction,” Vaclav Smil, Bill Gates’s favorite energy thinker, argued last year. Exxon Mobil Corp. still expects petroleum demand to be growing in 2050. One of the main models used until recently to map out the future of climate assumes emissions won’t fall until the 2090s.

Everything still depends on not just the moment when carbon pollution starts to decline, but the pace at which it shrinks. Still, a near-term peak sharply improves the prospects of keeping warming below catastrophic levels.