US emissions dropped nearly 2 percent in 2023 while economy grew: Analysis

Planet warming emissions in the U.S. dropped nearly 2 percent last year while the economy grew by about the same amount, according to a new analysis. Research firm that U.S. emissions fell 1.9 percent compared to 2022 and were 17.2 percent lower than they were in 2005. At the same time, the American economy grew by 2.4 percent in 2023.

Rhodium Group noted that this was the first time since before the coronavirus pandemic that the U.S. saw both economic growth and an emissions decline. The analysis attributed the emissions drop to a mild winter — meaning less energy used for heating — as well to less electricity coming from coal power.

Power sector emissions dropped 8 percent while residential and commercial building emissions dropped 4 percent. Emissions from transportation actually rose by 1.6 percent, though fuel consumption was still lower than it was before the pandemic. The report also noted the nation has a long way to go if it wants to hit President Biden’s goal of cutting emissions at least in half by the end of the decade.

“A decline in economy wide emissions is a step in the right direction, but that rate of decline needs to more than triple and sustain at that level every year from 2024 through 2030 in order to meet the US’s climate target,” it said..