Global carbon dioxide emissions may have peaked last year, according to new data by BloombergNEF. Emissions are projected to fall, especially in the power sector, due to the rapid expansion of wind and solar power, notably in China.
Renewable energy capacity added globally increased by nearly 50% last year, indicating a shift towards cleaner energy sources. Anticipated gains in the transportation sector and residential buildings through electric vehicles and heat pumps further contribute to the decline in emissions.
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