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According to Capgemini's annual World Energy Market Watch (WEMO) report, global energy consumption grew by 2.
3%, almost double the average since 2010
.
Oil, coal and natural gas meet nearly 75 percent of the growth in energy demand, leading to a 2 percent
increase in global greenhouse gas emissions.
The report attributes the surge in emissions to a lack of technological breakthroughs and population growth
.
But global emissions stabilized between 2014 and 2016, giving activists reason to be encouraged
.
But greenhouse gas emissions rose 1.
6 percent in 2017, compared with a 2 percent
increase last year.
The use of fossil fuels is booming and prices have remained largely stable
.
The fastest growing are in India, the United States and China
.
India's CO2 emissions increased by 6.
3%, while those of the United States and China increased by 3.
4% and 2.
3%
respectively.
Despite the increase in energy consumption, growth in all three economies has been modest over the past three
quarters.
In addition, governments appear to be delivering on their commitments
to transition to renewable energy.
Investment in clean energy projects in China and the United States fell by 39% and 6%,
respectively.
Among large economies, India is a clear anomaly, with a 10%
increase in renewable energy investment last year.
However, the electricity generated by such power plants is negligible compared to the increased demand that fossil fuels meet
.
However, the outlook is not entirely bleak
.
The European Union (EU) reduced emissions by 2.
5% in 2018, but falling installation costs for wind and solar energy led to a 14.
5% increase in EU renewable energy generation and rising sales of electric vehicles (EVs
).
The electric vehicle market grew by 79% in the US and China and 34%
in the EU.
However, in markets where power generation is mainly driven by fossil fuels, such as in coal-fired power plants, the increased penetration of electric vehicles does not offset emissions, but only leads to their migration from one source to another, such as from vehicle exhaust to emissions from power plants
.
According to Capgemini's annual World Energy Market Watch (WEMO) report, global energy consumption grew by 2.
3%, almost double the average since 2010
.
Oil, coal and natural gas meet nearly 75 percent of the growth in energy demand, leading to a 2 percent
increase in global greenhouse gas emissions.
The report attributes the surge in emissions to a lack of technological breakthroughs and population growth
.
But global emissions stabilized between 2014 and 2016, giving activists reason to be encouraged
.
But greenhouse gas emissions rose 1.
6 percent in 2017, compared with a 2 percent
increase last year.
The use of fossil fuels is booming and prices have remained largely stable
.
The fastest growing are in India, the United States and China
.
India's CO2 emissions increased by 6.
3%, while those of the United States and China increased by 3.
4% and 2.
3%
respectively.
Despite the increase in energy consumption, growth in all three economies has been modest over the past three
quarters.
In addition, governments appear to be delivering on their commitments
to transition to renewable energy.
Investment in clean energy projects in China and the United States fell by 39% and 6%,
respectively.
Among large economies, India is a clear anomaly, with a 10%
increase in renewable energy investment last year.
However, the electricity generated by such power plants is negligible compared to the increased demand that fossil fuels meet
.
However, the outlook is not entirely bleak
.
The European Union (EU) reduced emissions by 2.
5% in 2018, but falling installation costs for wind and solar energy led to a 14.
5% increase in EU renewable energy generation and rising sales of electric vehicles (EVs
).
The electric vehicle market grew by 79% in the US and China and 34%
in the EU.
However, in markets where power generation is mainly driven by fossil fuels, such as in coal-fired power plants, the increased penetration of electric vehicles does not offset emissions, but only leads to their migration from one source to another, such as from vehicle exhaust to emissions from power plants
.
