The @IEA #WEO2021 is out!
My usual deep dive:
📉fossil fuels 'peak by 2025' if pledges met
🔎net-zero 1.5C path now central to WEO
🌞solar outlook up again
📢huge ambition gap to 1.5C remains
🤓IEA shifts to EJ not Mtoe
THREAD
carbonbrief.org
My usual deep dive:
📉fossil fuels 'peak by 2025' if pledges met
🔎net-zero 1.5C path now central to WEO
🌞solar outlook up again
📢huge ambition gap to 1.5C remains
🤓IEA shifts to EJ not Mtoe
THREAD
carbonbrief.org
This year's #WEO2021 completely shakes up the usual IEA stable of scenarios:
CPS: Out
NZE: Net-zero 1.5C is most mentioned pathway
STEPS: "Stated policies" no longer centrepiece
APS: Highlights ambition gap in "announced pledges"
SDS: "well-below 2C"
carbonbrief.org
CPS: Out
NZE: Net-zero 1.5C is most mentioned pathway
STEPS: "Stated policies" no longer centrepiece
APS: Highlights ambition gap in "announced pledges"
SDS: "well-below 2C"
carbonbrief.org
Alongside the newfound prominence for the NZE 1.5C scenario, the #WEO2021 makes much more frequent mention of the phrases "net-zero" and "1.5C", both used twice as often compared with last year's outlook
carbonbrief.org
carbonbrief.org
The #WEO2021 also majors on the risks of climate inaction, as well as the benefits of the clean energy transition for markets and jobs
The IEA says the "new energy economy" is now "sustained by lower costs" and fossil fuel use will peak **by 2025** if countries meet their climate goals
carbonbrief.org
carbonbrief.org
Overall, even if countries fail to fully meet their climate goals, there's been huge progress since Paris
Stated policies = 2.6C
"Glasgow" pledges = 2.1C
And yet a massive "ambition gap" remains to 1.5C
carbonbrief.org
Stated policies = 2.6C
"Glasgow" pledges = 2.1C
And yet a massive "ambition gap" remains to 1.5C
carbonbrief.org
With an eye firmly on #COP26 the IEA highlights 4 key measures to close this gap – most of which are zero cost
⚡️clean electrification
🏡energy efficiency
⛽️methane leaks
👩🔬clean energy innovation
carbonbrief.org
⚡️clean electrification
🏡energy efficiency
⛽️methane leaks
👩🔬clean energy innovation
carbonbrief.org
IEA also pushes back hard on recent media reports, saying the global energy crisis is "not related" to the energy transition
Still, #WEO2021 devotes a chapter to climate & transition risks. Worth a read – eg this map on energy infrastructure water stress
carbonbrief.org
Still, #WEO2021 devotes a chapter to climate & transition risks. Worth a read – eg this map on energy infrastructure water stress
carbonbrief.org
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