Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • March 2017
03

CO2 emissions flat for third straight year as GDP grows

Open-access content Monday 20th March 2017 — updated 5.50pm, Wednesday 29th April 2020

Energy-related carbon dioxide (CO2) emissions stood at 32.1 gigatonnes (GTs) worldwide in 2016, the same as the previous two years, despite the global economy growing by 3.1%, according to the International Energy Agency (IEA).


The intergovernmental organisation said that this was the result of growing renewable power generation, switches from coal to natural gas, and improvements in energy efficiency.

CO2 emissions declined most in the US and China - the world's two largest energy users and emitters - mitigating increases in most of the rest of the world, while in Europe they remained stable.

IEA executive director Dr Fatih Birol, said: "These three years of flat emissions in a growing global economy signal an emerging trend, and this is certainly a cause for optimism, even if it is too soon to say that global emissions have definitely peaked.

"They are also a sign that market dynamics and technological improvements matter. This is especially true in the US, where abundant shale gas supplies have become a cheap power source."

Energy-related CO2 emissions (GTs) globally from 1980 to 2016 are shown below:

Source: IEA

Renewables supplied more than half of the global electricity demand growth last year, with hydropower accounting for 50% of this, while coal demand fell worldwide.

This was particularly true in the US, where demand fell by 11%, and electricity generation from natural gas was higher than from coal for the first time, while there was also a significant coal-to-gas switch in the UK.

Emissions fell by 1% in China while its economy expanded by 6.7%, due to nuclear and natural gas usage, a move away from coal in the industrial and buildings sector, and an increasing share of renewables - although the country has potential for significant improvement.

"In China, as well as in India, the growth in natural gas is significant, reflecting the impact of air-quality measures to fight pollution as well as energy diversification," Birol continued.

"The share of gas in the global energy mix is close to a quarter today but in China it is 6% and in India just 5%, which shows they have a large potential to grow."

The IEA analysis highlights that the pause in emissions growth is not enough to keep global temperatures from rising above 2°C, and that consistent, transparent and predictable policies are needed worldwide.


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession
This article appeared in our March 2017 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

UK inflation at highest level since 2013

The consumer price inflation rate increased from 1.8% in January to 2.3% in February – the highest on record since September 2013 – according to figures from the Office for National Statistics (ONS) released today.
Tuesday 21st March 2017
Open-access content
2

Extreme weather and climate conditions see multiple records broken in 2016

A record global temperature, exceptionally low sea ice, and an unabated rise in sea level and ocean heat were all witnessed last year, according to a report from the World Meteorological Organization (WMO).
Tuesday 21st March 2017
Open-access content
2

Number of women working past 70 doubles in four years

The number of women leaving the workforce after the age of 70 increased from 5.6% in 2012 to 11.3% in 2016, according to Hargreaves Lansdown’s analysis of new Office for National Statistics data.
Wednesday 22nd March 2017
Open-access content
2

Global insurance industry M&A activity falls in 2016

The number of completed mergers and acquisitions (M&A) in the global insurance industry fell by 13% from 2015 to 2016, according to a report by Clyde & Co.
Friday 17th March 2017
Open-access content
2

City job openings fall by a quarter in Brexit aftermath

The number of financial services jobs available in the City of London fell by 23% between January and February this year, according to figures by Morgan McKinley Financial Services.
Thursday 16th March 2017
Open-access content
2

Global disaster events resulted in $54bn of insured losses in 2016

Insured losses from disasters worldwide increased by 42% from $38bn (£30bn) in 2015 to $54bn in 2016 – the highest on record since 2012 – according to Swiss Re’s latest sigma study.
Tuesday 28th March 2017
Open-access content

Latest from March 2017

2

Young investors set to take advantage of incoming LISA

It has been found that 60% of investors aged 18-39 plan to open a lifetime individual savings account (LISA) after it is launched later this week, according to The Share Centre.
Monday 3rd April 2017
Open-access content
2

Calls for 'urgent' review of inadequate social care funding

Inadequate government funding has resulted in councils providing fewer people with social care, and deterioration in the overall quality, according to a select committee report.
Monday 3rd April 2017
Open-access content
2

UK DB pension deficit falls to £500bn

The collective deficit of defined benefit (DB) pension funds in the UK fell by £20bn from February to stand at £500bn at the end of March, according to PwC’s latest Skyval Index
Monday 3rd April 2017
Open-access content

Latest from inline_image_missing_alt_text

TPR publishes coronavirus guidance

The Pensions Regulator (TPR) has published guidance to help UK pension trustees, employers and administrators deal with the financial and regulatory risks posed by coronavirus.
Monday 23rd March 2020
Open-access content
2

Bitcoin: In the vaults

Blockchain technology and the trading of bitcoin were introduced in October 2008 in the famous paper by Satoshi Nakamoto.
Wednesday 4th March 2020
Open-access content
web_p24_cat-and-fish_iStock-483454069.png

Sensitivity analysis: swimming lessons

Silvana Pesenti, Alberto Bettini, Pietro Millossovich and Andreas Tsanakas present their alternative approach to sensitivity analysis
Wednesday 4th March 2020
Open-access content

Latest from small_opening_image

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from inline_local_link

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from 03

2

Young investors set to take advantage of incoming LISA

It has been found that 60% of investors aged 18-39 plan to open a lifetime individual savings account (LISA) after it is launched later this week, according to The Share Centre.
Monday 3rd April 2017
Open-access content
2

Calls for 'urgent' review of inadequate social care funding

Inadequate government funding has resulted in councils providing fewer people with social care, and deterioration in the overall quality, according to a select committee report.
Monday 3rd April 2017
Open-access content
2

UK DB pension deficit falls to £500bn

The collective deficit of defined benefit (DB) pension funds in the UK fell by £20bn from February to stand at £500bn at the end of March, according to PwC’s latest Skyval Index
Monday 3rd April 2017
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Reinsurance Pricing, Bermuda - World-leading Reinsurer

Bermuda (BM)
Outstanding package in a low tax environment
Reference
148937

Senior P&C Consultant (Non-life) – Bermuda Consultancy

Up to $130,000
Reference
148925

P&C Manager (Non-life) - Cayman Islands

Up to $190,000
Reference
148924
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ