Less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said.
In addition, cutting emissions from oil-and-gas companies’ operations and energy usage is “one of the cheapest options to reduce GHG [greenhouse gases] emissions generally,” the IEA said.
As of today, less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said.
Total energy investment is estimated at $2.8 trillion in the current year, with around $1.8 trillion on clean energy and $1 trillion on oil, gas and coal.
In its net-zero scenario, the IEA forecasts annual fossil fuel investment dropping by $500 billion to 2030 and clean-energy investment increasing by more than $2 trillion.
Persons:
turar, Fatih Birol, “, ” Birol, Giulia Petroni
Organizations:
Reuters, United Arab, International Energy Agency, IEA, giulia.petroni@wsj.com
Locations:
United Arab Emirates, decarbonization, Paris