IEA warns of slowest decade of energy demand growth since 1930s. Global body says delayed recovery will leave ‘deep scars’ into the 2030s.
FT 13th Oct 2020 read more »
Global greenhouse gas emissions from electricity generation are on course for a dramatic seven per cent drop in 2020 due to plummeting economic activity caused by the coronavirus crisis, setting the scene for renewables to dominate the recovery at the expense of fossil fuels. That is the headline conclusion of the International Energy Agency’s (IEA) latest annual World Energy Outlook report today, which offers the influential think tank’s most detailed analysis yet of the state of the net zero transition during an unprecedentedly tumultuous year for the global economy. As has been widely expected, energy-related emissions are projected to decline significantly in 2020 as a result of declining energy demand, which the IEA says is set to fall five per cent overall compared to last year. But the agency warned that while the drop in CO2 emissions may offer a short term boost to efforts to tackle the climate crisis, the question as to whether the Covid-19 pandemic would hinder or accelerate the net zero energy transition in the coming years would depend on global governments’ response, and their commitment to delivering a green recovery.
Business Green 13th Oct 2020 read more »
The coronavirus pandemic is expected to cause a record 7% decline in global energy-related carbon dioxide emissions in 2020, but governments are not doing enough to prevent a rapid rebound, according to an influential report. Carbon dioxide emissions from energy use are expected to fall to 33.4 gigatonnes in 2020, the lowest level since 2011 and the biggest year on year fall since 1900 when records began, the International Energy Agency (IEA) said in its annual world energy outlook. The pandemic has prompted a large drop in global economic activity, with energy demand expected to fall by 5% in 2020, the largest decline in the past century barring the world wars and the 1929 Great Depression, said the global energy watchdog. Carbon emissions are set to fall faster as zero-carbon renewable energy sources continue to grow, while the use of fossil fuel sources drops steeply.
Guardian 13th Oct 2020 read more »