IEA calls time on new fossil fuel development in roadmap to net-zero
The world can reach net-zero by 2050 only if governments stop the development of new oil and gas fields as well as building coal-fired power stations this year.
In a wide-ranging analysis, the International Energy Agency (IEA) also demanded global investment in energy to more than double from $2 trillion (£1.42 trillion) a year to $5 trillion (£3.54 trillion).
The recommendations are among 400 milestones on a roadmap published by IEA to net-zero.
Key steps include emissions from electricity generation falling to net‐zero in advanced economies by 2035 and globally by 2040. Renewables would drive the transformation, up from 29 per cent of generation last year to nearly 90 per cent by 2050.
No new fossil-fuel cars should be sold beyond 2035 while new gas boilers should be banned by 2025.
Nearly all cars sold globally by 2035 should be electric, the IEA says, and by 2050 nearly all new heavy goods vehicles are fuel cell or electric.
The number of public charging points for electric cars must rise from around one million today to 40 million by 2030. This would mean an annual investment of $90 billion by the end of the decade.
The IEA’s roadmap assumes a global population rise of about 2 billion, supplying electricity to 785 million people who currently do not have access to it as well as clean cooking for 2.6 billion people. It estimates the total cost at about $40 billion a year, or 1 per cent of global energy sector investment each year, and would cut premature deaths from indoor air pollution by about 2.5 million annually.
The Green Homes Grant is set to deliver only a fraction of the jobs and improvements intended, leading to calls for more involvement from local authorities in future schemes.
COVID-19 recovery packages have largely focused on protecting, rather than transforming, existing industries, and have been a “lost opportunity” for speeding up the global energy transition.
None of England’s water and sewerage companies achieved all environmental expectations for the period 2015 to 2020, the Environment Agency has revealed. These targets included the reduction of total pollution incidents by at least one-third compared with 2012, and for incident self-reporting to be at least 75%.
The UK’s pipeline for renewable energy projects could mitigate 90% of job losses caused by COVID-19 and help deliver the government’s ‘levelling up’ agenda. That is according to a recent report from consultancy EY-Parthenon, which outlines how the UK’s £108bn “visible pipeline” of investible renewable energy projects could create 625,000 jobs.
Billions of people worldwide have been unable to access safe drinking water and sanitation in their homes during the COVID-19 pandemic, according to a progress report from the World Health Organisation focusing on the UN’s sixth Sustainable Development Goal (SDG 6) – to “ensure availability and sustainable management of water and sanitation for all by 2030”.
The UK will no longer use unabated coal to generate electricity from October 2024, one year earlier than originally planned, the Department for Business, Energy & Industrial Strategy has announced.
The UK government is not on track to deliver on its promise to improve the environment within a generation and is failing to stem the tide of biodiversity loss, a damning new report from MPs has revealed.