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BREAKING: In a welcome reversal, the @IEA today concluded that “there is no need for investment in new fossil fuel supply” in a net-zero pathway to 2050. This punctures all the fossil fuel expansion plans in shallow corporate net-zero pledges. A brief #InsureOurFuture thread.
The IEA finds that reducing carbon emissions to net zero calls for “a complete transformation of how we produce, transport and consume energy”. This transformation will create 30 million jobs and result in at least 2 million fewer premature deaths per year from air pollution.
Even if the IEA continues to underestimate the potential of wind and solar and talks up CCS, “net zero means a huge decline in the use of fossil fuels” according to the roadmap, and the demand for coal, oil and gas will fall by 90%, 75% and 55% in the next three decades.
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