The world's consumption of fossil fuels reached record highs, surpassing 40 gigatonnes of CO2 in 2023, despite a rise in renewable energy usage, as per the Energy Institute global report.
Developing economies are escalating reliance on coal, oil, and gas, even as advanced economies might have peaked in energy industry emissions, with fossil fuels still dominating 81.5% of primary energy consumption, according to KPMG and Kearney's report.
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