Historically, carbon emissions and economic output have gone have gone hand in hand. Lately, this link has been weakening. Globally, Carbon emissions from fossil fuel significantly have been increasing by about 90 percent. With industrial processes and fossil fuel combustion contributing up to 78 percent and agriculture, deforestation, and other land use changes being the second largest contributors. The recent decrease in carbon emissions have been due to the combined factors which include recession, growth in renewable especially wind power, improved efficiencies in energy use, reduced coal-fired electricity generation and increased natural gas production.
In terms of economic analysis, green house emissions causing planetary climate change, represents both the overuse of the common property resource and environmental extremity. Slowing carbon emissions and in the process, preserving the environment comes at the expense of the vital economy. (Caro, Dario & et al, 2014).
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