- A recent report published by the IEA revealed that global carbon emissions rose by 0.9% YoY in 2022, hitting a record 36.8 gigatons
- With households accounting for 30% of global greenhouse gas emissions, GeoSolar Technologies has focused on building out renewable energy solutions for homes
- U.S. households have been slow to adopt renewable energy. As of 2020, only 3.7% of U.S. households derived their electricity from solar energy versus nearly 33% in Australia
- The recently passed Inflation Reduction Act (“IRA”) in the U.S. will seek to augment that figure in the U.S., with homeowners able to benefit from an array of tax credits and rebates on any purchases of energy efficient technology
Global carbon emissions hit a new record in 2022 according to a newly published report by the International Energy Agency (“IEA”), with emissions of the greenhouse gas rising by 0.9 percent year-over-year to 36.8 gigatons – the physical equivalent of 3.6 million fully loaded aircraft carriers (https://ibn.fm/pz1e9). What makes the statistic even more remarkable is the context under which it was achieved. China emits 27 percent of the world’s carbon dioxide output and accounts for upwards of a third of global greenhouse gas emissions, yet for much of the past year, the nation’s economy has found itself at a virtual standstill – a byproduct of the Chinese government’s stringent Zero Covid policies. Accordingly, the publication of the IEA’s report has been met with some consternation by the global scientific community.
“Any emissions growth — even 1% — is a failure,” said Rob Jackson, a professor of earth system science at Stanford University and chairman of the Global Carbon Project, an international group. “We can’t afford growth. We can’t afford stasis. It’s cuts or chaos for the planet. Any year with higher coal emissions is…
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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