2023-10-24 07:38:49
Despite the rise of clean technologies, demand for fossil fuels is expected to remain ” too high “ to meet the most ambitious objectives of limiting global warming, insists the International Energy Agency (IEA) one month before COP28.
Read also: Climate change explained to children in 8 questions
In his new annual report published on Tuesday October 24, the IEA estimates that “as things stand, demand for fossil fuels is likely to remain far too high” to maintain the most ambitious climate objective of the 2015 Paris Agreement. It aims to limit the rise in global average temperatures to 1.5°C compared to the pre-industrial era.
“Despite the impressive growth in clean energy” as observed in current policies, greenhouse gas emissions would remain high enough to increase global average temperatures by around 2.4°C this century. “Bend the emissions curve” to be able to contain global warming to 1.5°C is still « possible »but the path lies ahead ” very difficult “warned the IEA, in its 354-page report.
Read also: Article reserved for our subscribers At the UN, the question of the end of fossil fuels at the heart of climate diplomacy
“The costs of inaction could be enormous”
This document is published a few weeks before crucial negotiations at the 28th United Nations climate conference, in Dubai, from November 30 to December 12, where the future of fossil fuels is expected to give rise to numerous debates. “The costs of inaction could be enormous”she added in her 354-page report, a projection of what the world of energy would represent in 2030.
By this time, the IEA estimates that there should be 10 times more electric vehicles on the road in the world than today, while the share of renewable energies in the global energy mix should approach 50% ( compared to 30% currently).
Progress is there, with investments in clean energy up 40% since 2020, but “stronger policies are needed” to achieve the maximum warming target of 1.5°C, insists the IEA, reiterating its call to triple the capacity of renewable energies by 2030.
“Given the tensions and volatility that characterize traditional energy markets today, claims that oil and gas represent safe or secure choices for the entire world are unfounded”notably warned Fatih Birol, executive director of the IEA, while the Organization of the Petroleum Exporting Countries (OPEC) estimates that the world will still need fossil fuels for many years.
“Governments, businesses and investors must support clean energy transitions rather than hinder them”added Mr. Birol, citing the ” benefits “ in terms of security of supply, jobs and air quality to develop carbon-free energy technologies.
1698136545
#Demand #fossil #fuels #high #meet #targets #limit #climate #change #IEA