The total gross abstraction of carbon dioxide emissions in Canada has shown a fluctuating trend over the last decade. From 2013 to 2019, the emissions varied between increasing and decreasing trends, with notable peaks in 2015 and 2019. The year 2020 marked a significant drop in emissions, decreasing by 9.63% compared to the previous year, potentially due to the COVID-19 pandemic impacts.
Since 2020, the emissions have somewhat stabilized but continued to decrease gradually, with the year 2023 marking a year-on-year decrease of 0.98%, placing the emissions at 527.49 million metric tons of CO2 equivalent. Considering the last two years, the trend shows a consistent decline.
The compound annual growth rate (CAGR) over the past five years has been negative at -1.78%, suggesting an average annual reduction in emissions. Looking forward, forecasts from 2024 to 2028 indicate a continued decline in CO2 emissions, with a projected 5-year CAGR of -0.78% and an overall forecasted reduction by 3.84% over the five years.
Future trends to watch for include the impact of new environmental policies, advancements in renewable energy technologies, and societal shifts towards more sustainable practices. These factors could significantly influence the path of CO2 emissions in Canada in the coming years.
