Global CO2 Emissions: Annual Increase Halved in 2008

Very high oil prices up to the summer of 2008, together with a worldwide financial crisis have caused a halving of the annual increase in global emissions of carbon dioxide (CO2) from consumption of oil, coal and gas, and from cement production. Emissions increased by 1.7% in 2008, against 3.3% in 2007. Since 2002, the average annual increase was almost 4%. In addition to high oil prices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO2 emissions. These figures are based on preliminary estimates by the Netherlands Environmental Assessment Agency (PBL), using recently published energy data fromBP (British Petroleum).