According to the International Energy Agency (IEA), the global crisis triggered by the Russian attack on Ukraine could accelerate the energy transition.
In addition to short-term protection measures for consumers against rising prices, this means that many countries are now trying to accelerate structural change, as the IEA writes in its annual report presented today in Paris.
Changes not just in the short term
Energy markets and energy policy are not just changing in the short term, but in the coming decades, explained IEA Director Fatih Birol. “The responses from governments around the world promise a historic and definitive turning point towards a cleaner, more affordable and safer energy system.”
Still far from climate goals
Global demand for fossil fuels is on the verge of peaking or plateauing for the first time, according to the IEA analysis. According to the analysis, the share of fossil fuels in the global energy mix will fall from 80% to 60% by 2050. Global CO2 emissions are also expected to decrease – after increasing until 2025. Despite all this, the IEA assumes that global warming global temperature will be around 2.5 degrees by the year 2100 – far from the 1.5 degrees target, which aims to help prevent the serious effects of climate change.