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GHG emissions hit record high in 2024 despite declines in EU, Japan

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GHG emissions hit record high in 2024 despite declines in EU, Japan



Human activities worldwide in 2024 sent a record 53.2 gigatonnes (Gt) of CO2 equivalent (CO2eq) emissions to the atmosphere, without counting emissions from land use, land-use change, and forestry (LULUCF). It is a 1.3 per cent rise compared to the previous year (665Mt CO2eq – roughly the amount emitted by Germany in 2024), according to the latest data from the European Commission’s Emissions Database for Global Atmospheric Research (EDGAR).

Over the same period, the EU’s GHG emissions, excluding LULUCF, shrank by 1.8 per cent, that is by close to 60 Mt CO2 eq. GHG emissions from China and the US remained relatively stable.

EDGAR findings are published in the JRC report ‘GHG emissions of all world countries’ compiled in cooperation with the International Energy Agency (IEA). The report presents trends from 1990 to 2024, together with emissions and removals from LULUCF and wildfires. It provides a factsheet for all the countries in the world and the EU, including sector-specific trends and trends per capita and GDP.

Global GHG emissions hit a record 53.2 Gt CO₂eq in 2024, up 1.3 per cent, driven by major emitters like India (+3.9 per cent) and Indonesia (+5 per cent).
Only the EU and Japan saw notable declines.
The power sector led emission growth, while global emission intensity per GDP fell.
LULUCF acted as a small net source due to wildfires, despite large removals from forests.

The EDGAR report shows that global GHG emissions from anthropogenic activities have increased by nearly 1.5 per cent annually on average since 1990, and as a result are 65 per cent higher in 2024 than in 1990.

In 2024, the eight highest emitting economies – China, US, India, EU, Russia, Indonesia, Brazil and Japan – collectively contributed to 66.2 per cent of global GHG emissions. Only the European Union and Japan decreased their emissions compared to the previous year (-1.8 per cent and -2.8 per cent respectively), while all others either kept them rather stable (China: +0.8 per cent; US: +0.4 per cent; Brazil +0.2 per cent) or increased them (India: +3.9 per cent; Russia: +2.4 per cent, Indonesia: +5 per cent – the highest relative increase).

In absolute terms, India has the largest increase with 164.8 Mt CO2eq more emissions released in 2024 compared to 2023.

Nevertheless, all major emitters reduced their emission intensity in terms of GHG emissions per unit of GDP.

The EU has continued its decades-long decreasing trend of GHG emissions, briefly interrupted only in 2021 by the post-COVID rebound. On a longer perspective, data for the EU show the most significant percentage decrease of GHG among the top emitting economies since 1990, while GDP based on purchasing power parity (PPP) grew steadily in the same period.

Beyond the EU, other major economies also show signs of decoupling emissions from economic growth. While GDP PPP has grown strongly in all regions since 1990, the pace of emissions growth has been lower, leading to declining emission intensity.

The US, Russia and Japan have gone further, achieving absolute decoupling: in 2024 their GDP PPP was significantly higher than in 1990, while their GHG emissions were lower.

By contrast, India and China experienced rapid GDP PPP growth accompanied by rising emissions, although at a slower rate than GDP PPP. These contrasting trajectories underline that while absolute decoupling remains challenging, it is already a reality in several major economies.

China, the US, India, the EU, Russia, Indonesia, Brazil and Japan were the eight largest GHG emitters in 2024, according to the report. Together they account for 54.6 per cent of the global population, 68.3 per cent of the global GDP PPP, 68.3 per cent of the global primary energy consumption of fossil fuels (coal, oil, and natural gas), and 66.2 per cent of the global GHG emissions.

Only five of the 18 countries and regions that contribute more than 1 per cent to the total global GHG emissions reduced their GHG emissions in 2024: the EU27, Japan, Mexico, Germany, and South Korea.

According to the report, the power industry emissions showed the largest absolute increase (+235 Mt CO2eq or +1.5 per cent) in 2024 as compared to 2023, whereas fuel exploitation had the largest relative increase (+1.6 per cent). All other main economic activity sectors also increased their emissions or remained stable: industrial combustion and processes, buildings, transport, agriculture, and waste.

Atmospheric CO2 can accumulate as carbon in vegetation and soils, which act as sinks. Human activities have an impact on these sinks through the LULUCF sector.

Globally, the LULUCF removed about 1.3 Gt CO2eq in 2024, excluding wildfires, which is equivalent to 2.4 per cent of 2024 global GHG emissions. When including wildfires, the LULUCF sector results in a source of 0.9 Gt CO2eq.

This net flux reflects the balance between much larger removals, mostly from managed forests (about 5.5 Gt of CO2 in 2024, equal to 13.9 per cent of total anthropogenic CO2 emissions excluding LULUCF), and emissions, primarily from deforestation (about 3.7 Gt CO2, approximately 9.3 per cent of the same figure).

Fibre2Fashion News Desk (RR)



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Climate is now in the cost sheet

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Climate is now in the cost sheet



The apparel climate story has moved out of the ESG report and into the cost sheet. In ********, climate risk is showing up as cotton quality loss, import dependence, energy volatility, cooling capex, carbon-price exposure and mandatory textile-waste fees. For brands and suppliers, the question is no longer whether climate action is ‘responsible’. It is whether delay will make product margins uncompetitive.

The latest data makes the shift visible. Textile Exchange says global fibre production reached *** million tonnes in **** and could hit *** million tonnes by **** if business continues as usual. Polyester alone now makes up ** per cent of global fibre output, with ** per cent still fossil-based. That scale gives apparel a low-cost material engine, but it also ties the sector to fossil energy, petrochemical volatility and future carbon accounting.



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Nylon chips & CPL drop over 5% in final week of April, chain follows

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Nylon chips & CPL drop over 5% in final week of April, chain follows



Caprolactam (CPL) prices initially held near $*.***.**/kg with minimal movement, while nylon chips saw uptick to ~$*.***/kg (+*.* per cent WoW) driven by short-term restocking. Nylon filament yarn (DTY **D/**F) prices remained stable at ~$*.***.**/kg, supported by existing inventory and steady downstream textile operations.

By the second week (April * to April **), benzene stabilised, but caprolactam began to weaken to ~$*.***.**/kg (−*.* per cent WoW), signalling the start of broader chain pressure. Nylon chips responded with a mild correction to ~$*.***/kg (−* per cent WoW), while filament yarn prices continued to hold steady due to inventory buffers and ongoing execution of prior textile orders. In the third week (Apr ****), caprolactam stable to ~$*.*/kg, and chips followed to ~$*.***/kg (Stable WoW).



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Vietnam attracts $18.24 bn FDI in January-April 2026, trade up

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Vietnam attracts .24 bn FDI in January-April 2026, trade up



Vietnam has recorded a strong rise in foreign direct investment (FDI) and trade in the first four months of 2026, underlining its growing role in global manufacturing and export supply chains.

Total registered FDI, including newly registered and adjusted capital, along with foreign investors’ contributions and share purchases, reached $18.24 billion as of April 27, up 32 per cent year on year (YoY), according to the Ministry of Finance’s National Statistics Office (NSO).

Vietnam attracted $18.24 billion in FDI in January–April 2026, up 32 per cent, driven by manufacturing and processing.
Realised FDI hit a five-year high, signalling continued capacity expansion.
Trade surged to $344.17 billion, supported by strong US demand and rising imports from Asia, highlighting deeper global supply chain integration and export momentum.

A total of 1,249 new projects were licensed with combined registered capital of $12.15 billion, reflecting a 3.7 per cent annual increase in project numbers and a 2.2-fold rise in value. Manufacturing and processing dominated, attracting $8.12 billion, or 66.8 per cent of total newly registered capital.

Realised FDI in the January–April period was estimated at $7.40 billion, up 9.8 per cent YoY and marking the highest level for the period in the past five years. Of this, the manufacturing and processing sector disbursed $6.12 billion, accounting for 82.7 per cent. Meanwhile, 316 existing projects registered additional capital of $3.13 billion, representing a sharp 51 per cent decline compared to the same period last year. Combining newly registered and adjusted capital, total FDI into manufacturing and processing reached $10.49 billion, or 68.6 per cent of the total.

Foreign investors carried out 976 capital contribution and share purchase transactions worth $2.96 billion, up 61.9 per cent YoY. Among these, 325 deals increased enterprises’ charter capital by $445.13 million, while 651 share acquisitions without capital increases totalled $2.51 billion. Wholesale and retail trade led these investments, capturing $1.89 billion, or 63.9 per cent.

Among 53 countries and territories with newly licensed projects, Singapore was the largest investor with $6.05 billion, accounting for 49.8 per cent of the total. It was followed by the Republic of Korea with $4.08 billion (33.6 per cent), China with $524.1 million (4.3 per cent), Japan with $462 million (3.8 per cent), Hong Kong (China) with $329.2 million (2.7 per cent), and the Netherlands with $318.5 million (2.6 per cent).

On the trade front, Vietnam’s total trade with the rest of the world was estimated at $344.17 billion in the first four months of 2026, a significant increase from $277.21 billion in the same period last year, the NSO said. In April alone, trade volume reached an estimated $94.32 billion, rising 8 per cent from March and 26.7 per cent YoY.

The United States remained the largest importer of Vietnamese goods, with imports valued at $53.9 billion, while China continued as the top supplier with $69 billion. Imports from traditional markets also surged, with South Korea and ASEAN recording growth rates of 57.8 per cent and 44.3 per cent, respectively.

Fibre2Fashion News Desk (MS)



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