The decision in the 2015 Paris Agreement to limit global warming to 1.5 degrees will not succeed even if all current promises are fulfilled, the organization estimates.
Transitional towards zero-emission energy production is far too slow to meet the climate targets set, warns the International Energy Agency (IEA). The organization predicts that energy prices will fluctuate in the future, as seen in the autumn.
“We are not investing enough to meet future energy needs, and uncertainties are betraying volatile times. The benefits of accelerating the transition to clean energy are enormous, and the price tag of inaction is enormous, ”IEA Director Fatih Birol says.
The IEA says in the new world energy economy outlook in its reportthat investment in clean energy production should more than triple over the current decade in order to zero net emissions by 2050.
In the 2015 Paris Agreement, it was decided to limit global warming to 1.5 degrees compared to pre-industrial times, but there are doubts about the achievability of the target. To achieve San, global net emissions should be zero by 2050, the IEA says.
In his report The IEA presented two alternative forecasts for the future energy economy. If only the reforms already implemented or planned in the future were to continue into the future, by 2100 the average temperature would have risen by 2.6 degrees compared to pre-industrial times.
In the second scenario, the organization optimistically assumed that all promises made by governments in different countries about a timetable for zeroing net emissions would be realized and that investment in clean energy would double over the decade.
In this vision, demand for fossil fuels will start to decline in 2025 and global CO2 emissions will fall by 40% by the middle of the century. This, too, would still not be enough to achieve the goals, as the warming by the end of the century would then be 2.1 degrees.