Despite sharp improvements in major advanced economies, Fitch Ratings reported that there has been minimal progress in decarbonizing the world economy in 2023. According to Fitch Ratings’ analysis titled “Economic Indicator: Still Slow Progress in Decarbonization Rate of Global GDP,” developing economies have not achieved any reduction in carbon intensity, with their share in global energy consumption increasing. Global economic growth was 2.9% in 2023, while carbon emissions increased by 1.8%. The ratio of emissions to global gross domestic product (GDP) showed only a 1% decrease, remaining consistent with the average decline over the past 25 years. However, to reach net zero emissions by 2050, the annual decline in the ratio of emissions to global GDP should be at 8%. Last year, emissions in advanced countries decreased by 4.2%, while their economies grew by 1.8%. Emissions in advanced economies reached their lowest level since 1970. Most of this improvement is due to energy efficiency, as carbon intensity in energy consumption steadily decreased. However, no progress was made in decarbonizing developing economies. The economies and carbon emissions in these countries increased by 4.7%, marking the worst performance in the past decade. The share of these countries in global energy consumption rose to 64% in 2023. One of the reasons for the poor performance in developing economies highlighted the insufficient investment in clean energy projects, particularly in countries other than China. The recent growth in global clean energy investments has mainly been observed in advanced economies and China.