Recession Causes Steep Fall in CO2 Emissions

It may not exactly be a silver lining to the global recession, but greenhouse gas emissions have fallen sharply as a result of the world's current economic plight, according to a study by the International Energy Agency.

The IEA found that the drop in carbon dioxide emissions over the last year will be larger than any drop in the past forty years, including the decline in 1981 that resulted from the oil crisis.

But the world's financial woes weren't the only reason for the decline, the IEA said. For the first time, government policies had a significant impact on the decline, accounting for about a quarter of it.

A 2007 study found that carbon dioxide levels were rising faster than scientists had predicted.

The new findings come one year after the financial meltdown began and as world leaders meet in New York at a United Nations climate summit.