The road to meet the 1.5°C pathway is only possible by reducing emissions now, and urgently scaling up real solutions to the climate crisis.
The International Energy Agency (IEA) today released the 2021 version of its flagship World Energy Outlook (WEO) report. In May 2021, the IEA, the world’s most influential energy agency, supported calls from civil society organizations to end finance for new fossil fuel extraction for the first time in its history. The 2021 report doubles down on IEA’s recommendation, stating that governments should end investments in new fossil fuels and invest to meet the goal of keeping global heating below 1.5°C.
May Boeve, 350.org Executive Director, issued the following:
“We applaud the IEA for finally aligning with science and moving towards a 1.5˚C global warming limit. The call to end new fossil fuel extraction is a welcome move, but the ‘Net Zero’ roadmap remains far below what is vitally needed to effectively stop the worst of the climate crisis.
Governments, businesses, industry groups and investors rely on analysis by the IEA to guide their energy decisions. They have the power to influence key stakeholders, and we are counting on them to do so. They must continue to listen to people’s calls and help lead the energy transition the world so desperately and urgently needs.
With less than three weeks until COP26, this report is an important milestone that hopefully sends a message ahead of these important climate negotiations. But net-zero by 2050 is not enough, real climate leadership to reach 1.5˚C means funding a just transition, not fossil fuels.”