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The International Energy Agency published its World Energy Outlook 2022 (WEO), predicting for the first time that will reach a plateau as a result of the energy crisis triggered by the consequence of Russia’s war. Alongside short-term measures, many governments are taking longer-term policy decisions and shifting towards zero-carbon energy. According to the report, the crisis will accelerate the energy transition and global energy demand growth to 2030 will “almost entirely” be met by renewables. However, to achieve the global net-zero carbon goal by 2050, we’ll need more ambitious policies and a tripling of clean-energy investment (from the current $1.4tn/year) by 2030. The EU’s Fit for 55 package and REPowerEU plan is noted among the most important global policy responses.

For further information, we invite you to check the WEO report and other information on the IEA website.

Source: iea.org