“Without a major acceleration in clean energy innovation, reaching net-zero emissions by 2050 will not be possible.”
A groundbreaking report, “Net-Zero by 2050: a roadmap for the global energy system“(referred to as NZE here) by the Internation Energy Agency (IEA), has been emphasising that this decade is pivotal to reaching net-zero by mid-century.
This 2050 target is in line with the 2015 Paris Agreement, the foundations of global consensus to limit the rise in global temperature to 1.5c. This requires nothing short of a total transformation of the energy systems.
The report is the world’s first comprehensive study of how to transition to a net-zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth.
The report sets out a cost-effective and economically productive pathway, resulting in a clean, dynamic and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels. The report also examines key uncertainties, such as the roles of bioenergy, carbon capture and behavioural changes in reaching net zero.
The role of innovation has a crucial one to play.
In the near term, the report describes a net-zero pathway that requires the immediate and massive deployment of all available clean and efficient energy technologies, combined with a major global push to accelerate innovation. Continue reading