Friday, 24 November 2017

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Economic and carbon emission growth no longer linked

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11.12.2015 – The world economy stumbled in 2015, with global growth estimated at 2.4%, amid falling commodity prices and a slowdown in developing countries and transition economies.

The world economy is projected to grow by 2.9% in 2016 and 3.2% in 2017, says the United Nations World Economic Situation and Prospects (WESP) 2016 report, released on 10 December 2015.  

Given the much anticipated slowdown in China and persistently weak economic performances in other large emerging economies, especially Russia and Brazil, global growth is partially shifting towards developed economies. 

The report shares some positive trends in environmental sustainability. Global energy-related carbon emissions experienced no growth in 2014 for the first time in 20 years, with the exception of 2009 when the global economy contracted. This suggests the possibility that the world might start to see some de-linking between economic growth and carbon emission growth.   

Here are some facts on the global economy:

·         Oil price dropped 59.8 % since July 2014

·         Global inflation is at its lowest level since 2009 

·         No energy-related carbon emissions growth in 2014 for the first time in 20 years

·         Growth in developed economies will gain momentum in 2016

Stronger and more coordinated policy efforts are needed to ensure robust, inclusive and sustainable economic growth, which will be a key determinant for achieving the 2030 Sustainable Development Goals,” noted Lenni Montiel, Assistant Secretary-General of the United Nations Department of Economic and Social Affairs. 

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UNRICs Related Links

·         UN Department of Economic and Social Affairs (UNDESA)

·         UN Conference on Trade and Development (UNCTAD)

 

Photo Credits

·         T Chu

 



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