A New Global Energy Economy is being Created ‘, stated Fatih Birol, Head of the
Renewable energy investments must triple by the end of the decade if global climate promises are to be complied with, the international energy agency (IEA) announced on Wednesday.
S current climate commitments would achieve fewer than 20% of the reduction in emissions by 2030 to limit warming to 1.5 degrees.The countries agree to lower emissions by more than 5% in order to maintain a sustainable climate.
“We are not investing enough to meet for future energy needs, and the uncertainties are setting the stage for a volatile period ahead,”Fatih Birol
“We are not investing enough to meet for future energy needs, and the uncertainties are setting the stage for a volatile period ahead,” IEA chief executive Fatih Birol said.
The IEA describes four policy areas requiring additional focus in the coming decade: clean electricity for uses such as transportation and heating; energy efficiency; preventing leaks when working from fossil fuels; and promoting Green Innovation.
Despite the policies and action governments have initiated, global annual emissions would still be equal to the infrastructure which developing countries construct, the agency said.
By 2025, fossil-fuel demand will have reached its peak, and the planet will become roughly 2.1 ° C warmer.
Environmental campaigners and organisations have previously accused the IEA of supporting further investment in fossil fuels.
Today’s climate pledges would result in only 20% of the emissions reductions necessary by 2030 to put the world on a path towards #NetZero by 2050.
— International Energy Agency (@IEA) October 13, 2021
#WEO2021 is out!
Before a crucial #COP26, it shows that while climate ambitions have never been higher, energy transitions have a long way to go
Governments must give the signal that they will drive a wave of investment in a #NetZero future
— Fatih Birol (@fbirol) October 13, 2021
Under the leadership of PM @narendramodi ji, auction for commercial coal mining was launched last year. Continuing the momentum, launched 3rd tranche of auctions today. In this tranche highest-ever no. of mines are being offered. MoS @raosahebdanve ji was also present. pic.twitter.com/FhhGfhkqSX
— Pralhad Joshi (@JoshiPralhad) October 12, 2021