At least $4.5 trillion a year in clean-energy investments will be needed by the start of the 2030s to reach net zero by 2050, the IEA said.
“We have the tools needed to go much faster,” the report said.
It estimates that 80% of the emissions reduction needed by 2030 can come from increasing renewable generation, energy efficiency and electrification, as well as from cutting methane emissions.
The new report comes as policies toward green energy globally are at a crossroads, with politicians balancing green ambitions with energy security and a cost-of-living squeeze.
“Without efforts to reduce methane emissions from fossil fuel supply, global energy sector CO2 emissions would need to reach net zero by around 2045,” the report said.
Persons:
Ajit Solanki, “, Yusuf Khan
Organizations:
Press, International Energy Agency, IEA, Business
Locations:
Surendranagar, Gujarat, India, Paris, Ukraine, China