Fashion
GHG emissions hit record high in 2024 despite declines in EU, Japan
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)
Fashion
Vietnam textile-garment sector targets $50 mn in exports in 2026
The goal, however, is challenging due to external pressures, including stricter technical barriers, reciprocal tariffs on goods exported to the United States, and the European Union’s Carbon Border Adjustment Mechanism (CBAM) for selected industrial products.
Therefore, major export industries in the country have started restructuring and adjusting strategies early in the year to seize market opportunities.
Following a record export value of $475 billion achieved in 2025—up by 17 per cent YoY—Vietnam aims at adding nearly $38 billion to the figure in 2026.
Major export industries in the country have begun restructuring and adjusting strategies early in the year to seize market opportunities.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The sector is focusing on strengthening domestic supply chains, raising localisation rates and making more effective use of free trade agreements (FTAs), Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), was cited as saying by a domestic media outlet.
Exports may grow by 15-16 per cent this year, driven by market expansion and a shift towards higher-value products, according to MB Securities’ Vietnam Outlook 2026 report.
Fibre2Fashion (DS)
Fashion
Netherlands’ goods exports to US fall 4.7% in Jan-Oct 2025
The data showed that the decline was driven mainly by weaker domestic exports, with goods produced in the Netherlands down 8 per cent YoY. In contrast, re-exports to the US rose 3.9 per cent during the period. Exports to the US have fallen every month on a YoY basis since July, CBS said in a press release.
Trade flows were influenced by uncertainty around US import tariffs. In the first half of 2025, trade between the two countries continued to grow, possibly as companies advanced shipments ahead of announced tariff measures.
Goods exports from the Netherlands to the United States fell 4.7 per cent YoY to €27.5 billion (~$33 billion) in the first ten months of 2025, driven by an 8 per cent drop in domestic exports, according to CBS.
Re-exports rose 3.9 per cent, while tariff uncertainty weighed on trade.
Imports from the US increased 1.9 per cent to €48.1 billion (~$57.7 billion).
Meanwhile, imports from the United States rose 1.9 per cent YoY to €48.1 billion (~$57.7 billion) in the first ten months of 2025.
Fibre2Fashion News Desk (SG)
Fashion
Philippines revises Q3 2025 GDP growth down to 3.9%
The Philippines’ economic growth for the third quarter (Q3) of 2025 has been revised slightly lower, with gross domestic product (GDP) expanding 3.9 per cent year on year (YoY), down from the preliminary estimate of 4 per cent.
Gross national income growth for the quarter was also revised to 5.4 per cent from 5.6 per cent, while net primary income from the rest of the world was adjusted to 16.2 per cent from 16.9 per cent.
The Philippine Statistics Authority has revised down the country’s third-quarter 2025 GDP growth to 3.9 per cent from an earlier estimate of 4 per cent.
Gross national income growth was also lowered to 5.4 per cent, while net primary income from abroad eased to 16.2 per cent.
The PSA said the adjustments reflect its standard, internationally aligned revision policy.
The Philippine Statistics Authority said the revisions were made in line with its approved revision policy, which follows international standards for national accounts updates.
Fibre2Fashion News Desk (HU)
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