The International Energy Agency (IEA) announced that it will produce the world’s first comprehensive roadmap for the energy sector to reach net-zero emissions by 2050. The report is part of a series of new IEA projects to reach global energy and climate goals.
This report will contain in detail what are governments, companies, investors and citizens needed to do to fully decarbonise the energy sector and put emissions on a path in line with a temperature rise of 1.5 Celsius degrees. The aim of the new comprehensive roadmap is to build momentum ahead of the COP26 Summit in Glasgow in November, under the presidency of the United Kingdom.
“The IEA’s plan to produce a pathway to net zero global emissions by 2050 is another important step for climate action,” highlighted Alok Sharma, President of COP26. “This will make clear the actions countries must take individually and collectively to meet that goal.”
Many countries and multinational companies have already announced their strategies and plans to bring emissions down to zero by 2050, but there are still much to be done to achieve real results.
“The energy that powers our daily lives and our economies also produces three-quarters of global emissions,” said Dr Fatih Birol, the IEA’s Executive Director. “This means our climate challenge is essentially an energy challenge. The IEA is determined to tackle that challenge and lead global clean energy transitions. Our roadmap to net-zero can play a vital role in helping countries identify and implement the actions needed to achieve climate, energy security and affordability goals. Nothing short of a total transformation of our energy infrastructure will be required. That calls for decisive action this year, next year and indeed every year to 2050.”
The IEA willing to drive a stronger global consensus on the pathway to net zero, that is why the Agency will expand efforts to support its members and partners in meeting their climate ambitions. First of all, IEA announced further publications of reports: new global data on emissions of methane, a report on the Role of Critical Minerals in Clean Energy Transitions and a report on Financing Clean Energy Transitions in Developing Economies, which will be produced in collaboration with the World Bank and the World Economic Forum.
The Agency also pays attention to reinvigorate international energy cooperation, which will be a major theme of the second IEA Clean Energy Transitions Summit. Furthermore, a new commission, Our Inclusive Energy Future is assembled, headed by the Danish Prime Minister, that will bring together government leaders, ministers and prominent thinkers to explore how best to empower citizens to benefit from the opportunities and navigate the disruptions resulting from clean energy transitions.