The recession has resulted in an unparalleled fall in greenhouse gas emissions, providing a “unique opportunity” to move the world away from high- carbon growth, an International Energy Agency study has found.
In the first big study of the impact of the recession on climate change, the IEA found that CO2 emissions from burning fossil fuels had undergone “a significant decline” this year – further than in any year in the last 40. The fall will exceed the drop in the 1981 recession that followed the oil crisis.
Falling industrial output is largely responsible for the plunge in CO2, but other factors have played a role, including the shelving of many plans for new coal-fired power stations owing to falling demand and lack of financing.
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