CO2 emissions set to hit record levels in 2023 and there’s ‘no clear peak in sight,’ IEA says. The new findings from the IEA come after it said the planet’s demand for electricity was set for a strong rebound this year and next. “Despite increased climate ambitions, the amount of economic recovery funds being spent on clean energy is just a small sliver of the total,” Fatih Birol, the IEA’s executive director, states.
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Spend more on clean energy or global emissions will hit record high in 2023, warn experts
International Energy Agency says a bigger slice of Covid-19 recovery funding must go to fighting climate change or Earth-saving targets could be missed. Global carbon emissions are set to rise to record highs in 2023 unless governments around the world do more to channel Covid-19 recovery spending towards green projects, experts warn. The International Energy Agency (IEA) said that only two per cent of $16tn (about £11.7tn) in recovery spending is earmarked for clean energy investments – a finding it said was “very worrying”. “Since the Covid-19 crisis erupted, many governments may have talked about the importance of building back better for a cleaner future, but many of them are yet to put their money where their mouth is,” said Fatih Birol, the IEA’s executive director.
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