An update to the International Energy Agency’s (IEA) Net Zero Roadmap has emphasised that ambitious implementation and enhanced international cooperation are imperative to achieve global climate goals. According to the report, reducing greenhouse gas (GHG) emissions from the energy sector to net zero and limiting global warming to 1.5°C remains feasible due to growth in clean energy technologies. However, it calls for a rapid acceleration of momentum in multiple areas. The 2023 update provides a comprehensive global pathway to ensure the 1.5 °C target remains attainable, the IEA said, acknowledging significant changes over the past two years, including the post-pandemic economic rebound and clean energy technology growth, but also noting increased investments in fossil fuels and persistent high emissions. By 2030, the report envisions a tripling of global renewable power capacity, a doubling of annual energy efficiency improvements, increased sales of electric vehicles and heat pumps, and a 75% reduction in energy sector methane emissions. These measures, based on proven and cost-effective technologies, are expected to deliver over 80% of the required emissions reductions by 2030. The original roadmap, published in May 2021, provides clear milestones for the future role of fossil fuel energy. The report noted that apart from projects already in existence or approved for development in 2021, the development of new oil, natural gas, and coal reserves is not required. Further, the IEA’s ‘Global Hydrogen Review 2023’ has revealed a surge in the number of announced low-emissions hydrogen projects worldwide, with more than 40 countries having adopted national hydrogen strategies. However, the slow pace of government support has left installed capacity and volumes at a low ebb, resulting in low-emissions hydrogen accounting for less than 1% of overall hydrogen production and use.
We just released our updated #NetZeroRoadmap! 🚨
It shows the path to limiting global warming to 1.5 °C has narrowed. But record clean energy growth is keeping it open.
Read more on what's needed to keep energy & climate goals within reach ⬇️ https://t.co/JDwP19Kh7g
— International Energy Agency (@IEA) September 26, 2023