Wind turbines in the Surendranagar district of Gujarat, India. At least $4.5 trillion a year in clean-energy investments will be needed by the start of the 2030s to reach net zero by 2050, the IEA said.Achieving global net-zero emissions by 2050 is still possible, but significant investment in clean-energy technologies and reduced fossil-fuel usage will be needed to make that a reality, according to the International Energy Agency.
In a new report, the Paris-based energy watchdog said clean-energy investments are set to hit a record $1.8 trillion in 2023, but will have to be scaled up to at least $4.5 trillion a year by the start of the next decade if the world is to meet the target of keeping the global temperature rise to 1.5 degrees Celsius by 2050.
“We have the tools needed to go much faster,” the report said. It estimates that 80% of the emissions reduction needed by 2030 can come from increasing renewable generation, energy efficiency and electrification, as well as from cutting methane emissions. In particular, the report said the largest emissions reductions in its net-zero scenario came from tripling renewable generating capacity and doubling the savings from shifting to more efficient technology, such as switching to EVs, designing
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