The IEA summarises its 33-page report âEmissions from Oil and Gas Operations in Net Zero Transitionsâ. The IEA says the oil and gas sector needs ÂŁ600bn up front to meet its 2030 target of a 60% reduction in emissions. Thatâs only 15% of the sectorâs record 2022 energy-crisis windfall income. A small price increase and savings should recoup that money âquicklyâ, says the IEA. The IEA not only maps a way to limit the global average temperature rise … [Read more...]
IEA WEO 2021 message to COP26: 40% of clean energy goals will cut costs
The IEAâs latest World Energy Outlook was published on Wednesday. This yearâs WEO-2021 is released earlier than usual to inform COP26 and, for the first time, is available for free to ensure the widest possible audience. Simon Evans at Carbon Brief offers his summary of the 386-page report, quoting relevant numbers and charts. He first points to the new scenario, Net-Zero Emissions by 2050 (NZE), as the IEAâs recognition that this is what … [Read more...]
The IEA explains its new âNet-Zero Emissions by 2050â roadmap
Today the IEA publishes its new special report, âNet Zero by 2050: a Roadmap for the Global Energy Sectorâ, its deepest dive so far into whatâs needed for a successful global transition. It analyses the options as well as the socio-economic, behavioural and environmental impacts they will have globally. Here, Laura Cozzi (Chief Energy Modeller) and Timur GĂŒl (Head of the Energy Technology Policy Division) at the IEA summarise the key principles … [Read more...]
