Global emissions to hit record high in 2023

Carbon emissions are set to hit an all-time high by 2023 as just 2 percent of pandemic recovery finance is being spent on clean energy, said the International Energy Agency on Tuesday. Countries have allocated more than $16 trillion in fiscal support during the pandemic, mostly in the form of emergency financial help for workers and businesses. The IEA found that just $380 billion of this had been provided for clean energy projects. If all spending plans were to be realized, the intergovernmental body said global carbon emissions would hit record levels in 2023 and continue to rise in the following years.