Demand for fossil fuels is growing rapidly in 2021, with gas set to rise the most above its 2019 level.
Oil demand is also rebounding fast, but with the aviation sector still sluggish, it is set to stay below its 2019 peak.
Major policy changes are needed to alter these trends.
Good news: the growth of renewable power is accelerating, with solar & wind set for record increases
Renewable electricity is expected to grow by over 8% in 2021, providing most of the rise in global power supply. Almost half the growth comes from China, followed by the US & EU.
Our new @IEA report shows that global energy-related CO2 emissions trends are dire.
If governments don't act now to speed the shift from fossil fuels to clean energy, things will get worse in 2022.
BIG NEWS: Despite falling 6% in 2020 as a whole, global energy-related CO2 emissions rebounded over the course of the year from an April low and rose above their 2019 level in December
Our numbers indicate a return to carbon-intensive business-as-usual ➡️ iea.li/3q8hD0u
Major economies led the worrying resurgence in CO2 emissions, with China, India & Brazil all above 2019 levels by the end of the year – and the US approaching them.
This is a stark reminder of the urgent need to accelerate global clean energy transitions: iea.li/3dXA6dS
Global emissions fell by almost 2 billion tonnes in 2020, the largest absolute decline in history. Most of this was due to lower use of oil for road transport & aviation.
As travel & economic activities pick up around the world, oil consumption & its emissions are rising again.
India is set to see the largest rise in energy demand of any country in the next 20 years. How it meets this increase will have major consequences for its people, its economy and global energy & climate trends.
The bright prospects of the sector are reflected by continued strong appetite from investors.
This is made clear by shares of solar & wind energy companies outperforming the rest of the energy sector, and by the record level of renewable power capacity auctioned in 2020.
There's lots of talk about peak oil demand, but it misses the point.
#WEO20 shows that the era of global oil demand growth will end in the next decade. But without a big shift in government policies, there's no sign a rapid decline is coming.
The rise of solar, wind & batteries is cause for optimism, but big challenges remain.
A huge one is emissions from inefficient coal power plants, heavy industries & other existing infrastructure around the world – mostly in emerging Asia.
Our special report on clean energy innovation is out!
It shows the stark disconnect between aims for deep cuts in emissions & the current state of energy technologies.
Achieving global energy & climate goals requires a big acceleration in innovation ➡️ iea.li/31Ilitk
Energy efficiency & renewables are fundamental for clean energy transitions.
But about 1/3rd of the CO2 emissions reductions needed to move the 🌍 onto a sustainable path would come from technologies that haven’t yet reached the market today.
Our new report – the 1st in @IEA’s revamped Energy Technology Perspectives series – examines how to speed up innovation to meet energy & climate goals while enhancing energy security
This includes a guide to the status of 400+ clean energy technologies ➡️ iea.li/38jq6qx