IEA on how to reach net zero emissions

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects, ” Fatih Birol (pic), the IEA’s executive director, told Reuters

LONDON: Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, according to the International Energy Agency (IEA), in the top global watchdog’s starkest warning yet to curb fossil fuels.

Any abrupt halt to new oil and gas projects by next year still appears unlikely, however, as energy majors’ spending plans still tilt heavily towards hydrocarbons, and oil-producing nations such as Norway plan new licensing rounds.