Discover and read the best of Twitter Threads about #WEO2021

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This morning, I read a newsletter from an excellent #climate journalist who said the @IEA found last year that "we’d already discovered sufficient fossil fuels to get the world comfortably through to net-zero by 2050".

That's true. But it's not what the IEA said. Let me explain.
This is all about the difference between DISCOVERED and DEVELOPED reserves. That is shown in this classic @PriceofOil graphic. Oil & gas companies own much more in fossil fuel reserves than they have already developed.

It's not just that we've discovered enough fossil fuels. A chart showing that developed oil and gas reserves are a su
It's that oil, gas, and coal companies have already DEVELOPED fields and mines to meet the fossil fuel demand in the IEA's 1.5ºC-aligned net zero by 2050 scenario.

Discovered reserves are much larger. Oil, gas, and coal companies own a lot of undeveloped fossil fuel reserves.
Read 14 tweets
Since it is #WEO2021 day: How has the framing of #nuclear power in the World Energy Outlook reports evolved throughout the years?
Here follows a brief history of global nuclear policy! Thread.👇 (Source: @IEA)
The Nuclear Renaissance…
2006: ”Nuclear power can play a pivotal role if public acceptance is regained.” Mentions: 706
2007: “Nuclear power can also make a major contribution to lowering emissions. Exceptionally quick and vigorous policy action needed.” Mentions: 303
…that didn’t happen:
2008: “The share of nuclear power in primary energy demand edges down over the Outlook period,”. Mentions: 202
2009: “Nuclear power output grows in all major regions bar Europe, but its share in total generation falls”. Mentions: 456
Read 15 tweets
The International Energy Agency’s annual World Energy Outlook 2021 (WEO2021) report is out today. Kudos to IEA for making it available free of charge this year (We hope they also do this for their energy data as well). Read on for some key takeaways! 👇#WEO2021
IEA’s report states that current “pledges cover less than 20% of the gap in emissions reductions that need to be closed by 2030 to keep a 1.5 °C path within reach.”  #WEO2021
It also states that the global average temperature rise in 2100 is held to around 2.1 °C above pre-industrial levels with no stabilization by 2100 under current pledges 🌡️ - though this is with some dubious policy choices such as overdependence on technologies like CCS. #WEO2021
Read 14 tweets
IEA makes a strong cause for an all-inclusive approach. A cost-effective decarbonization requires all low-carbon contributions - including "a major expansion of" #nuclear power. #WEO2021 👇
1st key measure: "A massive additional push for clean electrification that requires a doubling of solar PV and wind deployment /../ a major expansion of other low emissions generation, including the use of #nuclear power where acceptable".
Moreover: "Nuclear power and dispatchable low emissions capacity, such as hydropower, biomass and geothermal are important elements of the picture, but capacity additions are dominated by solar PV and wind."
Read 8 tweets
#WEO2021 is out!

Before a crucial #COP26, it shows that while climate ambitions have never been higher, energy transitions have a long way to go

Governments must give the signal that they will drive a wave of investment in a #NetZero future

Our report:
The encouraging news is that a New Energy Economy Is Emerging

#WEO2021 shows that pursuing #NetZero can create a market opportunity for equipment like batteries & wind turbines worth over $1 trillion a year by 2050 – similar to today's oil market

If governments fully deliver on the climate pledges they have announced so far, it would limit global warming to 2.1 C.

Not enough to solve the climate crisis, but enough to change energy markets, including oil – which would peak by 2025 – and solar & wind, whose output soars.
Read 9 tweets

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