The International Energy Agency on January 11 introduced that it’ll produce the world’s first complete roadmap for the power sector to reach net-zero emissions by 2050 because it additional strengthens its management position in world clear power transitions and put world emissions on a path suitable with limiting world warming to 1.5°C.
The new roadmap, which will likely be launched on 18 May and construct momentum forward of the COP26 Summit in Glasgow in November, beneath the presidency of the United Kingdom, will set out intimately what is required from governments, firms, buyers and residents to totally decarbonise the power sector, the IEA mentioned, including that it’s a part of a sequence of recent IEA tasks to assist efforts to reach world power and local weather objectives.
Dozens of nations – together with many of the world’s largest economies – and plenty of main firms have already introduced plans to carry their emissions all the way down to zero by across the center of this century, the IEA mentioned. But a lot work stays to be carried out to translate these bold targets into precise reductions in emissions, the company warned.
“The energy that powers our daily lives and our economies also produces three-quarters of global emissions,” IEA Executive Director Fatih Birol mentioned. “This means our climate challenge is essentially an energy challenge. The IEA is determined to tackle that challenge and lead global clean energy transitions,” he added.
Birol mentioned the IEA roadmap to internet zero can play an important position in serving to international locations determine and implement the actions wanted to achieve local weather, power safety and affordability objectives. “Nothing short of a total transformation of our energy infrastructure will be required. That calls for decisive action this year, next year and indeed every year to 2050,” he mentioned.
COP26 President Alok Sharma mentioned the IEA’s plan to supply a pathway to internet zero world emissions by 2050 is one other essential step for local weather motion. “This will make clear the actions countries must take individually and collectively to meet that goal,” he mentioned.
Driving a stronger world consensus on the pathway to internet zero will likely be a key precedence for the IEA over the approaching years. The Agency additionally intends to step up its work on world clear power transitions in different main areas via 2021 and past. It will broaden efforts to assist its members and companions in assembly their local weather ambitions, and play a larger position in monitoring nationwide commitments. This consists of working with governments to develop stronger mechanisms that construct confidence that they don’t seem to be alone in taking the mandatory steps to maintain their local weather guarantees.
The IEA additionally introduced that reinvigorating worldwide power cooperation will likely be a serious theme of the 2nd IEA Clean Energy Transitions Summit, following the primary occasion held final yr. This yr’s Summit will likely be co-hosted with the UK Government on March 31 and can deal with how governments can work collectively extra successfully to make sure long-term net-zero targets are translated into concrete motion within the run as much as COP26.
“International collaboration is at the heart of the UK’s COP26 Presidency, and I am proud that the UK Government will co-host the COP26-IEA Clean Energy Transitions Summit to help accelerate the global shift to clean, affordable and resilient energy,” Sharma mentioned.
In parallel, the IEA will proceed to assist a safe and inclusive world power system.
It introduced on January 11 a brand new high-level world fee headed by Prime Minister Mette Frederiksen of Denmark that can carry collectively authorities leaders, ministers and distinguished thinkers to discover how finest to empower residents to learn from the alternatives and navigate the disruptions ensuing from clear power transitions.
The new fee will think about the social and financial impacts on people and communities, in addition to problems with affordability and equity, with the purpose of placing individuals on the coronary heart of unpolluted power transitions. The fee’s conferences will likely be chaired by Danish Energy, Climate and Utilities Minister Dan Jorgensen and end in key suggestions in advance of COP26, the IEA mentioned.
The IEA’s particular tasks for 2021 additionally embody the discharge subsequent week of recent world information on emissions of methane, a potent greenhouse gasoline, together with an in depth information for coverage makers and regulators looking for to extend their ambitions to chop these emissions. To assist guarantee international locations and firms are properly ready to speed up the deployment of recent applied sciences, the IEA will produce a brand new particular report in April on The Role of Critical Minerals in Clean Energy Transitions.
The IEA mentioned the company stays dedicated to deepening its engagement with main rising economies – resembling Brazil, China, India, Indonesia and South Africa – and supporting them of their efforts to develop and implement insurance policies to reach their power and local weather objectives. To assist be sure that clear power applied sciences can be found to all international locations, the Agency will even publish a particular report on Financing Clean Energy Transitions in Developing Economies, which will likely be produced in collaboration with the World Bank and the World Economic Forum (WEF) and launched on the WEF’s Special Annual Meeting 2021 in Singapore in late May.
“Taken together, the projects we are announcing today reflect our commitment to lead the global clean energy transitions at a critical time, and make sure we can address the challenge of climate change with sustainable, resilient and secure energy systems,” Birol mentioned.
Oil Change International hailed the IEA roadmap, noting that the company is lastly taking a serious step in the direction of living as much as its ambition to steer the clear power transition. “Developing a fully-fledged 1.5°C scenario is a long overdue and urgent first step towards providing governments with the right tools to meet the Paris Agreement goals. The real test of how serious Faith Birol and the IEA are about tackling the climate emergency will be if this new scenario becomes the cornerstone of all the agency’s work, and in particular its influential World Energy Outlook this fall,” mentioned Kelly Trout, interim director of the Energy Transitions and Futures Program at Oil Change International and added, “We’ll be looking for a robust 1.5°C scenario that prioritizes a rapid and just phase-out out of fossil fuels, rather than gambling our future on risky negative emissions technologies”.