In 2016, global GDP growth was 3.1% but emissions showed signs of stabilising, growing by only 0.4%. This means carbon intensity – emissions per dollar of GDP – fell by 2.6% in 2016. Carbon intensity has fallen at approximately this rate since 2014 - a clear step change from the historical rate. While the recent decarbonisation rate is nearly double the average since 2000, it falls just short of the 3% average decarbonisation rate required to achieve the national targets pledged in the 2015 Paris Agreement. More importantly, this rate is less than half of the 6.3% decarbonisation rate needed to limit global warming to well below two degrees - the main objective of the Paris Agreement.