India’s rising emissions reflect an increasing demand for energy, while emissions in China, the world’s largest emitter contributing 32 per cent of global emissions, are anticipated to rise by 0.2 per cent. Meanwhile, the United States, responsible for 13 per cent of global emissions, is likely to experience a 0.6 per cent decrease, and the European Union’s emissions are projected to decline by 3.8 per cent.

The report emphasises that fossil fuels continue to dominate the global energy landscape, with coal, oil, and gas contributing 41 per cent, 32 per cent, and 21 per cent of fossil CO2 emissions, respectively. Despite global efforts to reduce emissions, the Global Carbon Project observed that there was no indication of a peak in fossil fuel emissions worldwide.

Professor Pierre Friedlingstein from the University of Exeter, who led the study, expressed concern, stating that time was running out to meet the Paris Agreement goals. He urged world leaders at the COP29 summit to implement swift and substantial reductions in fossil fuel emissions to have a realistic chance of staying well below a 2°C global temperature increase.

Emissions from international aviation and shipping, which represent 3 per cent of the global total, are expected to increase by 7.8 per cent in 2024, although they remain 3.5% lower than pre-pandemic levels. Land-use change emissions are also anticipated to grow, spurred by deforestation and forest fires associated with the recent El Niño, which have affected natural carbon sinks.

The report further indicates that atmospheric CO2 concentrations are expected to reach 422.5 ppm in 2024, a level 52 per cent higher than pre-industrial figures. It cautions that the remaining "carbon budget" to prevent a 1.5°C rise in global temperatures could be depleted within six years if emissions remain at current levels.