AI’s Economic Benefits Surpass Emissions Concerns According to IMF

by News Editor

April 27, 2025

The International Monetary Fund (IMF) has recently highlighted the potential economic benefits of artificial intelligence (AI), projecting a global output boost of approximately 0.5% per year from 2025 to 2030. This growth is expected to surpass the environmental costs associated with higher carbon emissions from AI-driven data centers.

The report, showcased at the IMF’s spring meeting, emphasizes the need for equitable distribution of these economic gains while managing the adverse effects on our climate. The forecast indicates that AI’s contribution to GDP growth will outweigh the financial impacts of emissions, though it points out the necessity for policymakers and businesses to mitigate societal costs.

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Energy Demands and Environmental Footprint

AI is set to escalate global electricity demand, potentially reaching 1,500 terawatt-hours (TWh) by 2030, mirroring the energy consumption of countries like India today.

The increasing demand for data processing capacity could result in higher greenhouse gas emissions, but the AI industry aims to offset these with advancements in renewable energy technologies.

AI: A Driver for Energy Efficiency?

Analysts suggest that AI could potentially reduce carbon emissions through improved energy efficiency, fostering advancements in low-carbon technologies across sectors such as power, food, and transport. Grantham Research Institute stresses the significance of strategic action from governments and industries to facilitate this transition.

The role of AI in the global economy continues to evolve, stirring debates not only about its economic potential but also its environmental impact.

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Cyprus Leads The EU In Household Cooling Demand As Rising Temperatures Reshape Energy Use

by THEFUTURE.TEAM

July 9, 2026

Cyprus recorded the highest share of household energy consumption devoted to space cooling in the European Union in 2024, according to new data from Eurostat, highlighting the growing impact of rising temperatures on residential energy demand across southern Europe.

Cyprus Leads The EU In Cooling Demand

Space cooling accounted for 16% of final household energy consumption in Cyprus last year, the highest share among EU member states. Malta ranked second at 15%, while Greece allocated 7.4% of household energy use to cooling, compared with 2.5% in Spain and 2.3% in Italy.

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Although larger countries such as Italy, Spain and Greece consumed more energy for air conditioning in absolute terms because of their larger populations, Cyprus stood out for the proportion of household energy dedicated to keeping homes cool.

Cooling Demand Continues To Rise

Across the European Union, household energy consumption for space cooling reached 80.4 thousand terajoules (TJ) in 2024, doubling from 40.5 thousand TJ in 2018. According to Eurostat, demand increased almost every year during that period, with only two temporary declines: a 2.5% drop in 2020 and a 1.9% decrease in 2023.

The broader trend nevertheless points to a steady increase in cooling demand as higher temperatures make air conditioning an increasingly important part of household energy use across the bloc.

Mediterranean Countries Face The Greatest Pressure

In absolute terms, Italy recorded the highest energy consumption for space cooling at 26.3 thousand TJ, followed by Spain with 14.3 thousand TJ and Greece with 11.9 thousand TJ. However, when measured as a share of household energy use, Cyprus and Malta remain the EU’s most cooling-dependent countries, reflecting the greater impact of prolonged summer heat on the two Mediterranean island states.

The latest figures illustrate how climate change is reshaping energy consumption patterns across Europe. In the bloc’s warmer regions, space cooling is becoming less of a seasonal necessity and more of a permanent component of household electricity demand.

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