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No new oil, gas or coal development if world is to reach net zero by 2050, says IEA


“In its strongest warning yet on the need to drastically scale back fossil fuels, the International Energy Agency (IEA) also called for no new fossil-fuel cars to be sold beyond 2035, and for global investment in energy to more than double from $2tn (£1.42tn) a year to $5tn (£3.54tn) The result would not be an economic burden, as some have claimed, but a net benefit to the economy.” Via

“Michael Mann have become increasingly worried that some new critiques of climate action, such as the book published recently by the software billionaire Bill Gates, have focused too much on an idea that futuristic technologies will save the world from climate chaos, rather than focusing on what can be done today. Since the climate responds to cumulative emissions rather than current emissions, if cuts to carbon are left to the future and not made in this decade, it will be too late to stay within the 1.5C limit.” Via

“He added that the IEA predicts that global oil demand will decline from the 90m barrels a day at present to about 24m barrels a day by 2050. “Therefore there will not be a need for new investments in oil and gas fields, or new investments in coal mines,” he said. “It depends how governments take climate change seriously”. Via

“The report found that these measures would create 30m new jobs, and add 0.4 percentage points a year to global GDP growth. Birol said about 5m jobs would be lost in sectors such as coal, but governments could do much to ease the transition.” Via

Watch my conversation with Jennifer Morgan, CEO of Greenpeace, on the future of green energy and the end of oil


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