IEA: 1.5 degree target is still achievable

The International Energy Agency (IEA) has updated its »Net Zero Roadmap« first published in 2021. According to the report, the goal of limiting global warming to 1.5 degrees is still achievable due to record growth in key clean energy technologies, particularly photovoltaics and electric cars. However, momentum needs to pick up quickly in many areas.
The Net Zero Roadmap charts a path toward net zero emissions for the global energy sector in 2050, with developed countries reaching the net zero point earlier to give emerging and developing countries more time. The analysis shows that almost all countries will need to bring forward their targeted net-zero timelines. On the new zero path, global clean energy spending increases from $1.8 trillion in 2023 to $4.5 trillion annually by the early 2030s.
»The pathway to 1.5 °C has narrowed in the past two years, but clean energy technologies are keeping it open,« says IEA Executive Director Fatih Birol. »With international momentum building behind key global targets such as tripling renewable capacity and doubling energy efficiency by 2030, which would together lead to a stronger decline in fossil fuel demand this decade, the COP28 climate summit in Dubai is a vital opportunity to commit to stronger ambition and implementation in the remaining years of this critical decade.«

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