Investing in new coal, oil and gas projects must stop to hit climate goals, global energy agency says - News Summed Up

Investing in new coal, oil and gas projects must stop to hit climate goals, global energy agency says


A report by the International Energy Agency says immediate action is needed to reshape the world's energy sector in order to meet ambitious climate goals by 2050, including ending investments in new coal mines, oil and gas wells. It said in a report released Tuesday that it has determined there is a narrow but viable pathway for building a global energy sector with net zero greenhouse gas emissions by 2050. Several countries, including the United States and members of the European Union, have pledged to achieve net zero emissions — meaning only as much planet-warming gas is released into the atmosphere as can be absorbed — by mid-century. The IEA report sets out 400 steps needed to transform how energy is produced, transported and used. Her co-author, Timur Gul, said that while the technologies exist to decarbonize the energy sector, they aren't yet available for sectors such as aviation or heavy industry.


Source: CBC News May 18, 2021 15:24 UTC



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