IEA World Energy Report: Global energy investment could fall by $400 billion this year
4 years, 7 months ago

IEA World Energy Report: Global energy investment could fall by $400 billion this year

CNN  

London CNN Business — The coronavirus pandemic may have slashed global carbon emissions but a historic slump in global energy investment this year could threaten climate goals in the longer term, according to a new report. The International Energy Agency said Wednesday that global investment could plunge by a record $400 billion this year, with spending expected to plummet across every major sector, from oil and gas to renewable energy. The historic plunge means “lost jobs and economic opportunities today, as well as lost energy supply that we might well need tomorrow once the economy recovers,” IEA executive director Fatih Birol said in a statement. “Low oil prices and a reluctance to pay higher upfront costs could even usher in a new cycle of cheaper, less-efficient vehicles and appliances,” the report said.

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History of this topic

The energy transition will be much cheaper than you think
2 months ago

The energy transition will be much cheaper than you think

The Economist  

Your browser does not support this video. Briefing | Carbon bargain The energy transition will be much cheaper than you think Most analysts overestimate energy demand and underestimate technological advances Video: Jiaqi Wang P eople who want to do more to fight climate change and those who want to do less tend to have one thing in common. Donald Trump, …

Global CO2 emissions to hit record high in 2024, report says
Trending News
2 months ago

Global CO2 emissions to hit record high in 2024, report says

Hindustan Times  

* Global CO2 emissions to hit record high in 2024, report says Emissions from fossil fuels to rise nearly 1% to 37.4 bln T * Severe wildfires fuel 13.5% surge in land-use emissions * Emissions decrease in rich nations, rise in emerging economies * Without urgent action, global climate goals out of reach By Kate Abnett BAKU, - Global carbon …

Thousands of jobs at risk if UK fails to act now on North Sea energy transition
7 months, 3 weeks ago

Thousands of jobs at risk if UK fails to act now on North Sea energy transition

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK will fail to achieve a “just and fair” transition by 2030 unless the …

British energy production plunges to record low
9 months, 2 weeks ago

British energy production plunges to record low

The Telegraph  

Ross Dornan, author of the report, warned that plummeting oil and gas output was directly linked to the Government’s decision to impose windfall taxes on offshore operators’ profits – prompting many to cut new investments. “Oil and gas investments have become a lot less profitable and competitive as commodity prices have fallen but not project costs and tax rates.” The …

Global energy-related CO2 emissions hit record high in 2023: International Energy Agency
10 months, 2 weeks ago

Global energy-related CO2 emissions hit record high in 2023: International Energy Agency

The Hindu  

“Global energy-related emissions of carbon dioxide hit a record high last year, driven partly by increased fossil fuel use in countries where droughts hampered hydropower production,” International Energy Agency said on February 29. “Far from falling rapidly — as is required to meet the global climate goals set out in the Paris Agreement — CO2 emissions reached a new record …

Britain to miss net zero target despite billions of investment, warn analysts
10 months, 3 weeks ago

Britain to miss net zero target despite billions of investment, warn analysts

The Telegraph  

Britain will still depend on oil and gas for a third of its energy in its net zero target year of 2050 despite billions of pounds of investment, according to a report from leading energy analysts. The UK is massively behind schedule with its plans for offshore wind farms, nuclear power stations, solar farms and other low carbon energy sources …

Significant renewable energy gains in 2023 put global goal within reach
1 year ago

Significant renewable energy gains in 2023 put global goal within reach

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The world added 50 per cent more renewable energy in 2023 than 2022 – putting …

Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says
1 year ago

Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says

Associated Press  

BENGALURU, India — The world’s renewable energy grew at its fastest rate in the past 25 years in 2023, the International Energy Agency reported Thursday in its first assessment since nations agreed in December on ambitious new targets to slow dangerous climate change. The Paris-based agency said rapid growth of solar in China was the main driver as the world …

Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says
1 year ago

Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The world's renewable energy grew …

Global coal demand expected to decline by 2026: IEA report
1 year ago

Global coal demand expected to decline by 2026: IEA report

The Hindu  

Despite reaching an all-time high in production this year, global coal demand is expected to decline by 2026, said a report by the International Energy Agency. The IEA’s expectations of a decline in coal demand is premised not only on a rise in renewable energy capacity but also a change in global climate. “A turning point for coal is clearly …

Global coal use to reach record high in 2023, energy agency says
1 year, 1 month ago

Global coal use to reach record high in 2023, energy agency says

Al Jazeera  

IEA report says demand is expected to grow in India, China but decline in United States, European Union. Global coal use is expected to reach a record high in 2023 as demand in emerging and developing economies remains strong, the International Energy Agency has said. The demand for coal is seen rising 1.4 percent in 2023, surpassing 8.5 billion tonnes …

To save the climate, the oil and gas sector must slash planet-warming operations, report says
1 year, 1 month ago

To save the climate, the oil and gas sector must slash planet-warming operations, report says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

To save the climate, the oil and gas sector must slash planet-warming operations, report says
1 year, 1 month ago

To save the climate, the oil and gas sector must slash planet-warming operations, report says

Associated Press  

The oil and gas sector, one of the major emitters of planet-warming gases, will need a rapid and substantial overhaul for the world to avoid even worse extreme weather events fueled by human-caused climate change, according to a report released Thursday. The current investment of $800 billion a year in the oil and gas sector will need to be cut …

Accelerating switch to renewables could put fossil fuel peak in sight this decade: International Energy Agency
1 year, 2 months ago

Accelerating switch to renewables could put fossil fuel peak in sight this decade: International Energy Agency

ABC  

Almost half of the world's electricity could come from emissions-free sources such as wind, solar and nuclear by the end of the decade according to a report from the International Energy Agency. Key points: The International Energy Agency projects emissions-free sources will provide half the world's power by 2030 Demand for fossil fuels including coal, oil and gas is predicted …

Is the decline of oil in sight?
1 year, 5 months ago

Is the decline of oil in sight?

BBC  

Is the decline of oil in sight? The single biggest thing that we have to do to mitigate climate change is to stop burning fossil fuels – Krista Halttunen "We think that peak will be before the end of the decade, but just after 2028, so 2029 or 2030, most likely," says Ciarán Healy, an IEA oil market analyst and …

Quicker green transition likely with intensified low-carbon push
1 year, 6 months ago

Quicker green transition likely with intensified low-carbon push

China Daily  

A view of the wind turbines installed on Nanpeng Island, Guangdong province. China's plan to achieve net-zero greenhouse gas emissions by 2060 can be accomplished 10 years earlier if Beijing scales up investment in the energy sector and low-carbon technologies, BloombergNEF has said in a report. The electrification of road transport and industry will also lead to sharp decline in …

Data | Clean energy funds rise, but mostly in China, Europe, U.S.
1 year, 7 months ago

Data | Clean energy funds rise, but mostly in China, Europe, U.S.

The Hindu  

The latest report by the International Energy Agency, ‘World Energy Investment 2023,’ shows that investment in clean energy has increased in recent years, with the transition mainly fuelled by Electric Vehicles and renewable power. Chart 2 | The chart shows the annual clean energy investment, 2015-2023 in billion $ Click to subscribe to our Data newsletter The report shows that …

Shift to clean energy accelerating, but coal investments too high, report says
1 year, 7 months ago

Shift to clean energy accelerating, but coal investments too high, report says

Associated Press  

JAKARTA, Indonesia — Energy security concerns — worsened by the war in Ukraine — and policy support from rich countries are likely to help investments in clean energy outpace spending on fossil fuels, the International Energy Agency said in a report issued Thursday. “There’s still a very long way to go, but there are finally some encouraging signs for us …

Solar investment outshines oil as race for clean energy heats up
1 year, 7 months ago

Solar investment outshines oil as race for clean energy heats up

Al Jazeera  

High oil and gas prices and worries about supplies have seen spending on renewables leap ahead of fossil fuels. Investment in solar power is expected to overtake oil for the first time this year as clean energy spending outpaces that for fossil fuels. “Clean energy is moving fast – faster than many people realise,” IEA Executive Director Fatih Birol said …

Saudi Aramco says ESG investing threatens world’s energy security
1 year, 11 months ago

Saudi Aramco says ESG investing threatens world’s energy security

Live Mint  

Saudi Aramco’s top official warned Sunday that an increased focus on climate was undermining investment in oil and gas to the point where it now posed a threat to the world’s energy security. The shift is nevertheless raising alarm among top tier oil executives, who’ve rushed in recent weeks to argue that more should be invested in fossil fuels because …

IEA chief sees energy crunch for Europe next winter
2 years, 1 month ago

IEA chief sees energy crunch for Europe next winter

Associated Press  

BERLIN — Europe should be able to cope with the natural gas supply crunch in the coming months thanks to considerable reserves although the continent could face a bigger energy crisis next winter, the head of the International Energy Agency said Thursday. Fatih Birol said that, barring unforeseen events, “Europe will go through this winter with some economic and social …

In a first, global demand for every fossil fuel exhibiting a peak: Report
2 years, 2 months ago

In a first, global demand for every fossil fuel exhibiting a peak: Report

Hindustan Times  

While climate change remains to be a matter on the backburner for governments and individuals, a new report by the International Energy Agency has highlighted how global demand for every fossil fuel seems to be exhibiting a peak or a plateau. "Russian fossil fuel exports never return – in any of the scenarios in this year’s WEO – to the …

Global emissions will peak in 2025, says International Energy Agency
2 years, 2 months ago

Global emissions will peak in 2025, says International Energy Agency

Deccan Chronicle  

Paris: The International Energy Agency on Thursday released its World Energy Outlook 2022 report, which stated that global emissions will peak in 2025. "In the Announced Pledges Scenario, the commitments in the Nationally Determined Contributions bring about a faster reduction in emissions: global emissions peak before 2025 and fall to 31.5 Gt CO2 in 2030, which is around 15per cent …

Energy agency: CO2 emissions rise in 2022, but more slowly
2 years, 2 months ago

Energy agency: CO2 emissions rise in 2022, but more slowly

Associated Press  

BERLIN — The International Energy Agency said Wednesday that it expects carbon emissions from the burning of fossil fuels to rise again this year, but by much less than in 2021 due to the growth in renewable power and electric cars. Last year saw a strong rebound in carbon dioxide emissions — the main greenhouse gas responsible for global warming …

Why it makes economic sense to shift to renewable energy now
2 years, 3 months ago

Why it makes economic sense to shift to renewable energy now

Live Mint  

One of the commonest bogeys raised by those resisting the transition from fossil fuels to renewable energy, is that doing so will be too expensive. The International Monetary Fund stated earlier this month that steps to reduce greenhouse gas emissions by 25% by 2030 would lead to higher inflation and lower growth. In its World Economic Outlook 2022, the IMF …

Global energy crunch: A silver lining?
2 years, 3 months ago

Global energy crunch: A silver lining?

Hindustan Times  

Power scarcity is causing factory shutdowns and turning out streetlights in China. The entire world is crippled by an energy crunch, caused mainly due to the Covid-19 pandemic which was further exacerbated by the ongoing Russia-Ukraine war coupled with climate change-induced natural disasters. In Europe, the government is carrying out an awareness campaign and is asking its citizens to lower …

Decarbonising global energy system will save ‘at least’ $12 trillion by 2050
2 years, 4 months ago

Decarbonising global energy system will save ‘at least’ $12 trillion by 2050

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy ​​The tumbling cost of renewable energy means transitioning away from fossil fuels over the next …

Energy agency: ‘Radical action’ needed to hit climate goals
2 years, 9 months ago

Energy agency: ‘Radical action’ needed to hit climate goals

Associated Press  

BERLIN — The world must take “radical action” by investing $5.7 trillion in private and public money each year through 2030 to shift away from fossil fuels and ensure the planetary warming they cause doesn’t pass dangerous thresholds, the International Renewable Energy Agency says. In a 348-page report published Tuesday on the state of the global energy transition, the agency …

Key energy agencies diverge as demand and oil prices climb
2 years, 10 months ago

Key energy agencies diverge as demand and oil prices climb

Associated Press  

DUBAI, United Arab Emirates — Leaders of the world’s most consequential energy bodies gathered for a forum Wednesday to discuss the uncertain future of oil as demand rebounds and prices climb, all while a growing roster of nations pledge to transition to cleaner forms of energy. The reality is that 80% of the world’s energy needs continue to be met …

‘A future full of risks’: What’s next for climate crisis conversations in 2022?
2 years, 11 months ago

‘A future full of risks’: What’s next for climate crisis conversations in 2022?

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Therefore we need to enable all countries to do that, to transition to an economy that’s not based on …

World needs $5 trillion in annual climate finance by 2030 for rapid action
3 years, 2 months ago

World needs $5 trillion in annual climate finance by 2030 for rapid action

India Today  

Climate finance needs to rise sharply to $5 trillion a year globally by 2030 to fund measures to fight climate change, researchers said on Thursday, warning that transformation across economies is too slow to meet international temperature goals. "Although there are some encouraging signs of progress in a few sectors, overall global climate mitigation efforts are still falling woefully short," …

Fossil fuel producers’ plans far exceed 1.5C climate target
3 years, 2 months ago

Fossil fuel producers’ plans far exceed 1.5C climate target

Al Jazeera  

UNEP’s Production Gap report finds countries plan to produce some 110 percent more fossil fuels in 2030. The report published by the UN Environment Programme on Wednesday found that while governments have made ambitious pledges to curb greenhouse gas emissions, they are still planning to extract double the amount of fossil fuels in 2030 than what would be consistent with …

Peak oil is coming. That won’t save the world
3 years, 3 months ago

Peak oil is coming. That won’t save the world

CNN  

London CNN Business — The shift to clean energy is sending the oil industry into decline. That’s according to the International Energy Agency, which said in its global energy outlook published Wednesday that more aggressive climate action is needed as world leaders prepare for the crucial COP26 summit in Glasgow in November. “The world’s hugely encouraging clean energy momentum is …

IEA: World needs to triple investment in renewable power
3 years, 3 months ago

IEA: World needs to triple investment in renewable power

Al Jazeera  

Spends on the transition to renewable energy ‘remains far short’ of what’s needed to meet future demand sustainably: IEA. Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency has said. “The world is not investing enough …

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow
3 years, 3 months ago

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow

Firstpost  

Global economic recovery means coal demand is likely to surpass its 2019 level and retain its crown of being the leading source of greenhouse gas emissions. While the Covid-19 pandemic initially caused a drop in greenhouse gas emissions as economic activity dropped, the pandemic may not have accelerated the shift to renewables: Renewables boom Renewables are now the number two …

Explained | How bad is the world’s energy crisis?
3 years, 3 months ago

Explained | How bad is the world’s energy crisis?

The Hindu  

The story so far: The world is facing an energy crunch as the supply of natural gas, coal and other energy sources fails to adequately satisfy demand. Natural gas prices have risen multifold in Europe this year while several factories in China have shut down due to power disruptions linked to the short supply of coal. Other analysts see the …

IPCC report raises questions about the future of fossil fuel investments
3 years, 5 months ago

IPCC report raises questions about the future of fossil fuel investments

The Hindu  

Fossil fuels have built the world as we know it today, powering our global economy and generating most of the world's electricity. She pointed out that despite advances in renewable energy, the world still hasn't found a reliable substitute for oil and natural gas, which she has called the "lifeblood of the modern economy." "We're definitely seeing pressure from a …

Covid19 Recovery to Push Emissions to All-time High: International Energy Agency
3 years, 5 months ago

Covid19 Recovery to Push Emissions to All-time High: International Energy Agency

News 18  

The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday. “We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels in 2023, continuing …

Opinion: The beginning of the end for Big Oil
3 years, 6 months ago

Opinion: The beginning of the end for Big Oil

CNN  

Editor’s Note: This article has been edited from its original version. That’s being driven by pervasive supply shortages from the lack of investment that has continued since the 2014 collapse in oil prices and, more recently, reduced investment in shale oil production. Nevertheless, this could be the last super cycle for oil because major economies appear committed to replacing fossil …

Rebound in global gas demand threatens international climate targets: IEA
3 years, 6 months ago

Rebound in global gas demand threatens international climate targets: IEA

India Today  

A rebound in global gas demand to 2024 following a record fall last year is poised to knock the world off track for a climate goal of achieving net zero emissions by 2050, the International Energy Agency said on Monday. “Natural gas demand is set to rebound strongly in 2021 and will keep rising further if governments do not implement …

No place for new fossil fuels if world is to reach net zero by 2050, says landmark report
3 years, 7 months ago

No place for new fossil fuels if world is to reach net zero by 2050, says landmark report

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy There is no place for new fossil fuel projects if the world is to reach …

Stop new fossil fuel projects to reach net-zero carbon emissions by 2050: IEA report
3 years, 7 months ago

Stop new fossil fuel projects to reach net-zero carbon emissions by 2050: IEA report

Firstpost  

Overall, fossil fuels are set to account for only around a fifth of the energy supply by 2050, down from almost four-fifths currently. All future fossil fuel projects must be scrapped if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5C, the International Energy Agency said Tuesday. In a …

‘Scrap all new fossil fuel projects for 2050 goals’: Report
3 years, 7 months ago

‘Scrap all new fossil fuel projects for 2050 goals’: Report

Hindustan Times  

AAll future fossil fuel projects must be scrapped if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5C, the International Energy Agency said Tuesday. Overall, fossil fuels are set to account for only around a fifth of energy supply by 2050, down from almost four fifths currently, the report …

Energy agency: End new fossil fuel supply investments
3 years, 7 months ago

Energy agency: End new fossil fuel supply investments

Associated Press  

BERLIN — The International Energy Agency says immediate action is needed to reshape the world’s energy sector in order to meet ambitious climate goals by 2050, including ending investments in new coal mines, oil and gas wells. The Paris-based agency, long considered close to the fossil fuel industry, said in a report released Tuesday that it has determined there is …

International Energy Agency says radical change needed to reach net zero emissions by 2050
3 years, 7 months ago

International Energy Agency says radical change needed to reach net zero emissions by 2050

ABC  

Immediate action is needed to reshape the world's energy sector in order to meet climate goals by 2050, including ending investments in new coal mines, oil and gas wells, according to the International Energy Agency. Key points: Even if commitments are fully achieved, there will still be 22 billion tonnes of carbon dioxide worldwide in 2050, the report says This …

End fossil fuel investment: Window to reach net-zero emission goal by 2050 shrinking, warns IEA
3 years, 7 months ago

End fossil fuel investment: Window to reach net-zero emission goal by 2050 shrinking, warns IEA

India Today  

The International Energy Agency on Monday warned that the window of opportunity for reaching net-zero emissions is narrowing and action is needed to reshape the world's energy sector in order to meet ambitious climate goals by 2050. The agency in a report said that "government actions fall well short of what is required to bring global energy-related carbon dioxide emissions …

To Be Carbon-Neutral By 2050, No New Oil And Coal Projects, Report Says
3 years, 7 months ago

To Be Carbon-Neutral By 2050, No New Oil And Coal Projects, Report Says

NPR  

To Be Carbon-Neutral By 2050, No New Oil And Coal Projects, Report Says Enlarge this image toggle caption Peter Dejong/AP Peter Dejong/AP Enough rhetoric, it's time to act: that's the gist of a new report from the International Energy Agency, which says the world must bring about "a total transformation" of its energy systems if it hopes to reach net-zero …

Renewable Energy Growth Rate Up 45% Worldwide In 2020; IEA Sees 'New Normal'
3 years, 8 months ago

Renewable Energy Growth Rate Up 45% Worldwide In 2020; IEA Sees 'New Normal'

NPR  

Renewable Energy Growth Rate Up 45% Worldwide In 2020; IEA Sees 'New Normal' Enlarge this image toggle caption Hector Retamal / AFP Hector Retamal / AFP Despite the pandemic, the growth rate in the world's renewable energy capacity jumped 45% in 2020, part of "an unprecedented boom" in wind and solar energy, according to a new report from the International …

Also roaring back from pandemic: earth-warming emissions
3 years, 8 months ago

Also roaring back from pandemic: earth-warming emissions

Associated Press  

— Global warming emissions are expected to spike this year as the world emerges from the coronavirus pandemic and economies begin to recover. Worldwide energy-related carbon dioxide emissions could surge by 1.5 billion metric tons this year, following last year’s decline due to the pandemic, according to a Tuesday report from the International Energy Agency, an intergovernmental group based in …

IEA issues ‘dire warning’ as CO2 emissions set to soar in 2021
3 years, 8 months ago

IEA issues ‘dire warning’ as CO2 emissions set to soar in 2021

Al Jazeera  

The IEA predicts that carbon dioxide emissions could rise to 33 billion tonnes in 2021 – the second largest rise in emissions ever. Global carbon emissions are set to jump by five percent marking the largest single increase in more than a decade as the economic rebound from the coronavirus pandemic is “anything but sustainable” for the climate. The International …

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