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Sean Riley/ Flickr cc

The International Energy Agency has just reported that 2016 global carbon emissions from energy were flat for the third year in a row.

Why it matters: The Paris-based agency calls the latest findings more evidence of the "decoupling" of emissions from global economic growth. IEA executive director Fatih Birol calls it a "cause for optimism" but warns it's too soon to say emissions have peaked. The IEA findings note that the world still isn't on track to keep the global temperature increase less than 2°C above preindustrial levels, the goal of the Paris climate accord.

The details: U.S. carbon emissions fell 3% thanks to gas and renewables' ongoing displacement of coal in power production. The country's CO2 output is at its lowest level since 1992. Emissions in China, the world's biggest CO2 source, fell by 1% even as the economy grew by 6.7%, IEA said. Renewables, nuclear and gas have an increasing share of electricity generation, and efforts to clean up China's polluted air are driving a shift from coal to gas at industrial plants and buildings, the agency said.

Go deeper

35 mins ago - Politics & Policy

Trump leaves White House for the final time

President Trump took off on Marine One at 8:17 a.m on Wednesday morning, departing the White House for the last time, en route to Florida.

The big picture: Trump's final hours will be marked by snubbing his successor and granting pardons to many of his allies who have been swept up in corruption scandals.

Inauguration Day dashboard

Screenshot: Fox News

President Trump has left the White House en route to a farewell event at Andrews Air Force Base, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.