We just launched @IEA’s new Sustainable Recovery Tracker to measure how governments’ responses to the Covid-19 crisis are affecting clean energy investment & CO2 emissions.

It shows that only 2% of fiscal support goes to clean energy transitions ➡️ iea.li/2UYzbm9
The amount of total clean energy investment mobilised by governments' recovery measures to date falls far short of what is needed to put global CO2 emissions on a path to reach net zero by 2050.

CO2 emissions are set to rise to an all-time high in 2023 👉 iea.li/3eCajHA
Our new Tracker monitors government spending & the clean energy investment it mobilises on 30+ measures in our Sustainable Recovery Report, covering 800 recovery policies in over 50 countries.

Explore them online today ⬇️ iea.li/3kOwWNd
Though recovery plans have helped boost clean energy investment 30% over historic levels, stark geographic disparities in spending are appearing

Sustainable recovery spending is significantly lower in emerging & developing economies, where clean energy investment is needed most
The @IEA’s new Sustainable Recovery Tracker is one of our contributions to Italy’s Presidency of the @g20org. I will present the key takeaways at the #G20 Ministerial in Naples this week.

The message is clear: We need strong action on clean energy now – there's no time to spare

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More from @fbirol

9 Jun
Our major new report reveals a critical fault line in global efforts to reach climate goals.

In many emerging & developing economies, emissions are rising while clean energy investments are faltering. Money is not going where it’s most needed.

Read more: iea.li/2TTHPSk
Today, emerging & developing economies account for two-thirds of the world's population, but only one-fifth of global investment in clean energy.

Our new report shows that this investment needs to grow more than 7 times by 2030 to over $1 trillion a year to meet net zero goals.
One of our key recommendations: Governments need to give international public finance institutions a strong mandate to finance clean energy in the developing world.

There is no shortage of funds globally, but we need huge efforts to channel them where they can make a difference.
Read 7 tweets
2 Jun
Our new report shows global energy investment is set to rebound nearly 10% in 2021 to $1.9 trillion, reversing most of last year's drop

But the amount going to clean energy technologies is not nearly enough to put us on a path to net zero by 2050

More ➡️ iea.li/3i6Qz1v
Renewables are dominating investment in new electricity generation & are expected to account for 70% of the global total this year.

However, far more is needed – our #NetZero2050Roadmap calls for investment in clean energy to triple by 2030.

Read more 👉 iea.li/3pcGiCf
Spending by some global oil & gas companies appears to be starting to diversify.

@IEA analysis last year showed only around 1% of the industry's investment went to clean energy. Recent trends suggest this may rise to 4% in 2021 – and well above 10% for some European companies.
Read 5 tweets
18 May
The @IEA just released the world’s first comprehensive roadmap for the global energy sector to reach net-zero emissions by 2050.

Our special report shows the pathway to net zero by 2050 is narrow but still achievable if governments act now.

The report ➡️ iea.li/33PDCAD
The @IEA pathway leads to a global energy system in 2050 dominated by clean energy:

➡️ Solar is the single largest source of global energy
➡️ Renewables provide almost 90% of electricity
➡️ One-fifth of that electricity is used to produce hydrogen

More: iea.li/3orMJRu
Our net zero pathway sees a historic surge in clean energy investment to $4 trillion in 2030. This creates millions of jobs & helps lift global economic growth by 0.4 percentage points a year in the 2020s.

The pathway has no need for investment in new fossil fuel supply projects
Read 9 tweets
5 May
Demand for critical minerals is set to soar as the world pursues net zero goals, our new @IEA report shows.

The energy sector’s needs for minerals could rise by as much as 6 times by 2040. Insufficient supplies would risk delays & extra costs.

More ➡️ iea.li/3ef1vrw
The mineral requirements of an energy system powered by clean energy are profoundly different from one that runs on fossil fuels.

For example, an offshore wind plant needs 13 times more mineral resources than a similar sized gas power plant.

Read more ➡️ iea.li/3eWVcYP
Our report shows a looming mismatch between the world’s strengthened climate ambitions & the availability of critical minerals that are essential to realising those ambitions

Governments need to act now & act together to reduce the risks of price volatility & supply disruptions
Read 7 tweets
20 Apr
Global CO2 emissions are set to jump by 1.5 gigatonnes in 2021 – led by a rebound in coal demand mainly from the power sector.

It would be the 2nd largest rise in emissions ever. This economic recovery is anything but sustainable for our climate.

More ➡️ iea.li/3dw4xqX
Global coal demand is expected to rebound by 4.5% this year, taking it higher than in 2019 & close to its 2014 peak.

Coal's growth in 2021, driven by the power sector, is set to be 60% bigger than that of all renewables combined.

Read more from @IEA: iea.li/3eesEtn
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.
Read 5 tweets
2 Mar
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.
Read 4 tweets

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