IEA's Net Zero Roadmap: Achieving 1.5 °C Goal Still Possible
- 27 Sep 2023
Recently, the International Energy Agency (IEA) reported that achieving net-zero greenhouse gas emissions and limiting global warming to 1.5 °C remains feasible, thanks to the remarkable growth of clean energy technologies.
Key Points
- Feasibility of 1.5 °C Goal: The IEA's latest Net Zero Roadmap reaffirms the possibility of attaining the 1.5 °C global warming target.
- This update builds on the original 2021 report and incorporates significant changes in the energy landscape over the past two years.
- Record Growth in Clean Energy: Since 2021, there has been remarkable growth in solar power capacity and electric vehicle (EV) sales, aligning with a pathway toward global net-zero emissions by mid-century.
- Clean Energy Innovation: Clean energy innovation has expanded options and lowered technology costs.
- In the 2021 Roadmap, technologies not yet available on the market accounted for nearly half of the emissions reductions needed for net zero by 2050.
- Equitable Transition: The roadmap acknowledges the significance of an equitable transition, allowing advanced economies to reach net zero earlier to provide more time for emerging and developing economies.
- Reducing Fossil Fuel Demand: The roadmap envisions a policy-driven increase in clean energy capacity that leads to a 25% reduction in fossil fuel demand by 2030, resulting in a 35% emissions reduction compared to the all-time high in 2022. By 2050, fossil fuel demand drops by 80%.
- Supply Chain Resilience: Building resilient and diverse supply chains for clean energy technologies and critical minerals is crucial.
- Warning of Delayed Action: The report warns that insufficient ambition and implementation between now and 2030 would create additional climate risks and make achieving the 1.5 °C goal reliant on the massive deployment of unproven and costly carbon removal technologies.
