Asia snubs IEA's call to stop new fossil fuel investments

Japan was the region's third-largest carbon emitter in 2019, after China and India. - Reuters

MELBOURNE (Reuters): Asian energy officials on Wednesday (May 19) disputed the International Energy Agency's (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero carbon emissions by 2050, viewing that approach as too narrow.

The IEA, which has previously championed the oil and gas industry, this week outlined a path to net-zero emissions that suggested stopping new investments in oil, gas and coal supply, retiring coal-fired plants in advanced economies by 2030, and banning sales of new internal combustion engine cars by 2035.