What is the fastest path to ‘Net Zero’?

The path to developing a net zero-emissions energy sector by mid-century is a viable but narrow path, said the International Energy Agency. Eliminating the sale of gasoline-powered cars and stopping investments in fossil fuels is the most effective path to achieving the net zero emissions goal.

Illustration. https://tinhtexaydung.petrotimes.vn In a statement released alongside a major new report, the Paris-based organization said achieving the net zero emissions target “Net Zero” would require an “unprecedented transformation”. about how energy is produced, transported and used globally”. In a clear indication of the amount of work that needs to be done, the IEA report said existing commitments fell “far below what is needed to achieve net-zero global emissions by”. year 2050″. According to the IEA’s roadmap to achieve Net Zero by 2050, more than 400 “milestones” will need to be crossed. These include phasing out new fossil fuel sales by 2025 and ending sales of internal combustion engine cars by 2035. In addition, there should be no “investment in new fossil fuel supply projects, and no further final investment decisions for new coal plants”. Preliminary figures from the US Energy Information Administration show that: The share of natural gas and coal in utility-scale power generation in 2020 is 40.3% and 19.3%, respectively. . According to the IEA scenario, solar and wind photovoltaic will become the leading source of electricity for the planet before the end of the decade, accounting for nearly 70% of electricity production by 2050. According to the IEA’s roadmap, solar energy will become “the largest source of total energy on the planet” by the middle of this century. In contrast, fossil fuels will see their market share “fall from almost four-fifths of total energy supply today to more than one-fifth.” Employment in the clean energy sector will increase by 14 million people in the period to 2030, while the role in the oil and gas and coal sectors will decrease by about 5 million people. “Our roadmap shows the priority actions needed today to ensure that the opportunity for net zero emissions by 2050 is narrow but still attainable,” said Fatih Birol, CEO. of the IEA, said in a statement. “The scale and speed of the efforts required by this important and formidable goal, our best chance of tackling climate change and limiting global warming to 1.5 °C makes this perhaps the biggest challenge humanity has ever faced,” added Birol. Cutting anthropogenic carbon dioxide emissions to Net zero by 2050 is considered critical once the 1.5°C target is reached. Later this year, the COP26 summit will take place in the Scottish city of Glasgow. This is seen as a hugely important event, with many hoping it will act as a catalyst for governments to step up their climate ambitions to achieve the goals set out in the Paris Agreement. . The reality shows how challenging the IEA’s roadmap is. As energy companies are still discovering new oil fields, while in countries like the United States fossil fuels continue to play an important role in electricity generation. https://tinhtexaydung.petrotimes.vn