Page 12 - REM Annual Review 2021

REM M AY REM

World needs immediate and

massive deployment of green tech

to fight climate change

The road to net zero by 2050 is “narrow but still achievable”, warns the IEA in its latest report

GLOBAL THE IEA’ new roadmap for the energy sector has change and limiting global warming to 1.5 °C –
outlined what government must to do reach net make this perhaps the greatest challenge human-
WHAT: zero by 2050. The agency is positive that it will kind has ever faced,” said Fatih Birol, the IEA
The IEA calls for 630 GW happen, but warned that continuing as at present Executive Director.
of new solar per year is not an option. “The IEA’s pathway to this brighter future
2030, and 390 GW of new Its report warned that current climate pledges brings a historic surge in clean energy invest-
wind made by governments would fall well short of ment that creates millions of new jobs and lifts
what is required to bring global energy-related global economic growth. Moving the world onto
WHY: carbon dioxide (CO2) emissions to net zero by that pathway requires strong and credible pol-
Failing to boost 2050. icy actions from governments, underpinned by
investment in green The report calls for annual additions of solar much greater international co-operation.”
energy would mean PV capacity to reach 630 GW by 2030, and those
missing the 1.5 C targets of wind to reach 390 GW. Together, this is four Innovation and technology roll-out
times the record level set in 2020. As well as divesting from fossil fuels and boosting
WHAT NEXT: The report forecasts that renewables will pro- clean generation, the report calls for accelerated
Governments must boost vide almost 90% of electricity by 2050, and that innovation and the rapid roll-out of technology
investment in innovation one-fifth of that electricity will be used to pro- available today.
and abandon new fossil duce hydrogen. Most of the global reductions in CO2 emis-
fuel projects Secondly, the report calls for the immediate sions between now and 2030 in the net-zero
end of new investment in all fossil fuel supply pathway come from technologies readily avail-
projects, and no further final investment deci- able today.
sions (FIDs) for new unabated coal plants. But in 2050, almost half the reductions come
Indeed, a total coal phase-out would be from technologies that are currently only at the
needed out by 2040, and in advanced economies demonstration or prototype phase.
by 2030.
Meanwhile, global investment in fossil fuel Developing economies
supply should fall from $575bn on average over The report stressed that 785mn people still do
the past five years to $110bn in 2050. Upstream not have to access to electricity, mainly in Africa
fossil fuel investment should be restricted to and developing Asia.
maintaining production at existing oil and nat- Providing electricity to these and clean cook-
ural gas fields. ing solutions to 2.6bn people who lack them is an
Other milestones include the end to the sales integral part of the Roadmap’s net-zero pathway,
of internal combustion engine passenger cars the report said.
by 2035 and reaching net-zero emissions in the This would cost around $40bn a year, equal
electricity sector by 2040. to around 1% of average annual energy sector
investment. It also brings major health benefits
Viable pathway through reductions in indoor air pollution, cut-
The IEA said that a viable pathway existed to ting the number of premature deaths by 2.5mn
reach net zero, but said it is narrow and will per year.
require an unprecedented transformation of “The clean energy transition is for and about
how energy is produced, transported and used people,” said Dr Birol. “Our Roadmap shows that
globally. the enormous challenge of rapidly transitioning
“Our roadmap shows the priority actions that to a net-zero energy system is also a huge oppor-
are needed today to ensure the opportunity of tunity for our economies. The transition must
net-zero emissions by 2050 – narrow but still be fair and inclusive, leaving nobody behind.
achievable – is not lost. The scale and speed of We have to ensure that developing economies
the efforts demanded by this critical and formi- receive the financing and technological know-
dable goal – our best chance of tackling climate how they need to build out their energy systems

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