According to the International Energy Agency (IEA), renewable energy sources such as wind and solar are growing rapidly, and sales of electric cars will set new sales records in 2020. However, the global transition to clean energy is too slow to meet climate goals.
Fatih Birol, head of the IEA, said: “We are not investing enough to meet future energy needs, and uncertainty sets the stage for an uncertain period ahead.
Investments should triple
With just weeks to go before the UN climate summit, the IEA publishes its annual World Energy Outlook. At the meeting, measures will be taken to achieve the goal of the Paris Agreement, which limits the temperature to 1.5 degrees compared to the pre-industrial period.
To get there, the IEA suggests that global emissions must reach zero by 2050, and then, according to the Energy Agency, investment in clean energy projects and infrastructure will need to more than triple over the next decade.