Last Year, Global Energy Sector CO2 Emissions Decreased by 2 Billion Tons... Largest Reduction Ever Due to COVID-19

[Image source=EPA Yonhap News]

[Sejong=Asia Economy Reporter Kwon Haeyoung] Last year, global carbon dioxide (CO2) emissions in the energy sector decreased by nearly 2 billion tons compared to the previous year, marking the largest reduction since World War II. The COVID-19 pandemic led to a decline in travel, transportation, and production activities, which in turn reduced fossil fuel use and carbon emissions.

According to the International Energy Agency (IEA)'s "World Energy Review: 2020 Carbon Dioxide Emissions" released on the 18th, CO2 emissions in the global energy sector last year fell by 5.8% from the previous year to 31.5 billion tons, due to decreased fossil fuel demand. This represents a reduction of about 2 billion tons from 33.4 billion tons in the previous year.

The IEA stated, "The reduction in CO2 emissions last year is unprecedented in human history," and analyzed that "the decrease is equivalent to the total emissions produced by the entire European Union (EU) disappearing from global emissions."

In particular, fossil fuel demand declined significantly. Among them, oil demand dropped by 8.6% due to reduced road traffic and a slump in the aviation industry, marking the largest decrease. This led to a reduction of approximately 1.2 billion tons in CO2 emissions. Coal demand also fell by 4%, resulting in a 600 million ton decrease in CO2 emissions. The reduction in gas demand led to a 200 million ton decrease in CO2 emissions.

According to the IEA analysis, decarbonization in the power sector within the energy field is accelerating.

CO2 emissions from the power sector decreased by 3.3%, about 450 million tons, compared to the previous year, marking the largest reduction on record. This was due to reduced electricity demand caused by COVID-19 and an increase in renewable energy generation.

Last year, renewables accounted for a record 29% of the global power generation mix. The share of coal-fired power generation fell from 37% in the previous year to 35% last year, while gas-fired and nuclear power generation remained at similar levels of 23% and 10%, respectively.