The International Energy Agency (IAE) has updated its ‘Net Zero’ roadmap with the necessary objectives that must be met globally before 2030, also with a view towards net zero emissions worldwide by 2050.
According to the IAE, the main objective that all different actors must pursue is to “intensify electrification and biofuels” to “decarbonize road transport until 2030.” And from that moment on, ” electrification will be the main lever .”
According to IAE estimates, electricity will represent three-quarters of energy consumption in road transport in 2050. The electric car and solar panels will play a fundamental role in limiting global warming to 1.5ºC.
This is what emerges from the updated report that began in 2021, which now takes into account all the work carried out during these last two years and establishes what would have to happen in the global energy sector over the coming years and decades.
Our main objectives to follow for the IAE
The IAE highlights the “incredible growth” of some clean energy technologies, such as solar, or the record growth in the sale of electric cars. However, the increase in investment in fossil fuels and “persistently high” emissions is also highlighted, but in a negative tone.
Technological innovations are being materialized and applied, even though some of them have fallen compared to the 2021 report, such as hydrogen. If the objectives of the ‘Net Zero’ roadmap are to be met, the IAE proposes to “seriously accelerate” a series of measures during this decade :
- Considerably increase the sale of electric cars and heat pumps.
- Triple global renewable energy capacity.
- Double the annual rate of energy efficiency improvement.
- 75% reduction of methane emissions from the energy sector.
For the International Energy Agency, these objectives are “achievable if geopolitics are left aside. ” But, in addition, almost 4.5 trillion dollars need to be invested each year to accelerate the transition towards cleaner energy from the beginning of the next decade, compared to an expenditure of 1.8 trillion dollars expected for 2023 according to estimates by the IAE.