It has generally been seen that growth in economy leads to growth in energy consumption while a shortfall in the energy supply constrains the economic growth. According to the report “Global Energy Review: CO2 Emissions in 2022” published by International Energy Agency (IEA) in March 2023. around 91 percent of CO2 emissions came from fossil fuels and industry. Table-3 indicates that as GDP per capita grows over the years, so does per capita energy consumption. The proportional increase in per capita energy consumption and CO 2 emission with respect to increase in per capita GDP varies among these countries. Energy consumption was growing steadily in 1970-2000 period except during 1980-85 period when there was an oil crisis which resulted in the reduction of energy consumption in the energy intensive industries like iron & steel.

Source: Economic Times October 11, 2023 12:46 UTC