IEA says route to net zero requires more cash and less politics

By Forrest Crellin PARIS - Record growth in clean energy technology, including solar panels and electric vehicles, means it is still possible to limit global warming to 1.5 degrees Celsius - Record growth in clean energy technology, including solar panels and electric vehicles, means it is still possible to limit global warming to 1.5 degrees Celsius , the International Energy Agency said on Tuesday.

Temperatures have hit record levels this year and global averages are around 1.1C higher compared with the pre-industrial average. In its update to its Net Zero Roadmap, which proposes scenarios to reach net zero emissions by the middle of the century, the IEA said an increase in solar power capacity and in electric vehicle sales since 2021 were in line with targets, as well as infrastructure plans in both fields.

It also called for a 75% cut in energy sector methane emissions by 2030, which would cost an estimated $75 billion, just 2% of net income received by the oil and gas industry in 2022.

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Net Zero by 2050 Still Remains Possible With Rapid Renewables Expansion, Says IEAAchieving net zero by 2050 is still possible, but requires tripling renewable energy capacity by the end of the decade and increasing green investments to $4.5 trillion a year globally by the early 2030s, according to a new report from the International Energy Agency.
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