Exxon Mobil Corp projects that oil and natural gas will still account for 54% of the world's energy needs in 2050, with CO2 emissions doubling the desired scenario set by the IPCC.
Demand for coal, natural gas, and oil is expected to peak in the near future, even without new climate policies, as a result of the shift towards renewable energy and electric vehicles, according to the International Energy Agency.
Demand for fossil fuels is expected to reach an all-time high before 2030, despite progress in the fight against climate change, according to Fatih Birol, Executive Director of the International Energy Agency.
Record growth in clean energy technology could still limit global warming to 1.5 degrees Celsius, but an investment of nearly $4.5 trillion per year would be required by the start of the next decade, according to the International Energy Agency.
A new report from the International Energy Agency reveals that countries are making progress in deploying climate-friendly technologies, such as solar power and electric vehicles, and that there is still a pathway to achieving net-zero emissions by 2050 and limiting global warming to 1.5 degrees Celsius.
The International Energy Agency's updated roadmap for achieving zero greenhouse gas emissions by 2050 highlights the limitations of carbon capture technology and carbon credits, emphasizing the progress made by renewables in reducing emissions.
Global fossil fuel demand needs to decrease by 25% by 2030 and 80% by 2050 to limit global warming and achieve climate change goals, according to the International Energy Agency's Net Zero Roadmap.
A new report by ICF Climate Center suggests that the US can achieve net zero by 2050 through increased adoption of electric vehicles (EVs), building decarbonization, and clean energy, but emphasizes the need for additional investments, regulations, and policies to reach the required scale.
The world may breach the 1.5 degrees C warming threshold, or come close to it temporarily, as global temperatures continue to rise, raising concerns about the climate crisis and the targets outlined in the Paris Agreement.
Europe could achieve energy independence from gas and oil imports by 2030 if governments and private investors are willing to spend âŹ2 trillion on developing renewable energy sources, according to a study by the Potsdam Institute for Climate Impact Research. The transition to a fully renewable energy system would lead to lower energy costs for consumers and increased resilience during geopolitical tensions.
The International Energy Agency (IEA) warns that the world needs to improve or expand the equivalent of the entire global electricity grid by 2040 in order to transition to clean energy and meet climate change goals.
The International Energy Agency predicts that global demand for oil, natural gas, and coal will peak by 2030 due to the adoption of cleaner energy and transportation policies, leading to a sweeping transformation in the global energy landscape.
Clean energy, including solar and electric vehicles, is expected to transform the global energy system by 2030, with solar projected to generate more electricity than the entire US power system, according to the International Energy Agency (IEA)'s "World Energy Outlook 2023."
By 2030, the International Energy Agency predicts a significant increase in green transportation and electricity worldwide, with renewables accounting for half of the world's electricity mix and electric vehicles making up 10 times more of the vehicles on the road, signaling an unstoppable global transition to clean energy.
The International Energy Agency predicts that world fossil fuel demand will peak by 2030 due to the increase in electric cars and slower economic growth in China, undermining the need for further investment in the sector.
Humanity is at a critical juncture in energy production and consumption, as small changes and policy shifts can have significant impacts on the energy economy, with the International Energy Agency predicting that a slight drop in China's economic growth could result in a reduction in coal use equivalent to Europe's consumption, highlighting the need for transformative policy changes to meet climate goals and limit warming to 2°C or below.
Global energy consumption is expected to rise by 1.8% in 2024, reaching a record high, with demand for fossil fuels and renewable energy both increasing, according to a report by the Economist Intelligence Unit.
