The world is experiencing the first truly global energy crisis in history. And as the International Energy Agency has been warning for many months, the situation is especially perilous in Europe, which is at the epicentre of the energy market turmoil. I’m particularly concerned about the months ahead.
The gas crisis in Europe has been building for a while, and Russia’s role in it has been clear from the beginning. In September 2021 – five months before Russia’s invasion of Ukraine – the IEA pointed out that Russia was preventing a significant amount of gas from reaching Europe. We raised the alarm further in January, highlighting how Russia’s large and unjustified reductions in supplies to Europe were creating “artificial tightness in markets” and driving up prices at exactly the same time as tensions were rising over Ukraine.
After Russia invaded Ukraine on 24 February, nobody in Europe or elsewhere could be under any illusions about the risks around...
Supplies of critical minerals essential for key clean energy technologies like electric vehicles and wind turbines need to pick up sharply over the coming decades to meet the world’s climate goals, creating potential energy security hazards that governments must act now to address, according to a new report by the International Energy Agency.
The special report, The Role of Critical Minerals in Clean Energy Transitions, is the most comprehensive global study to date on the central importance of minerals such as copper, lithium, nickel, cobalt and rare earth elements in a secure and rapid transformation of the global energy sector. Building on the IEA’s longstanding leadership role in energy security, the report recommends six key areas of action for policy makers to ensure that critical minerals enable an accelerated transition to clean energy rather than becoming a bottleneck.
“Today, the data shows a looming mismatch between the world’s...
Modern and sustainable forms of bioenergy play an important role in our new special report on how the global energy sector can reach net-zero emissions by 2050, which also examines bioenergy’s advantages and limitations in efforts to address climate change by limiting the rise in global temperatures to 1.5 °C.
Bioenergy is a versatile renewable energy source that can be used in all sectors, and it can often make use of existing transmission and distribution systems and end-user equipment. But there are constraints on expanding the supply of bioenergy, and possible trade-offs with sustainable development goals, including avoiding conflicts at local level with other uses of land, notably for food production and biodiversity protection.
To navigate these risks, our Roadmap to Net Zero by 2050 combined for the first time the IEA’s global energy system modelling with the International Institute for Applied Systems Analysis (IIASA)’s Global Biosphere Management...
The energy sector is the source of around three-quarters of greenhouse gas emissions today and holds the key to averting the worst effects of climate change, perhaps the greatest challenge humankind has faced. Reducing global carbon dioxide (CO2) emissions to net zero by 2050 is consistent with efforts to limit the long-term increase in average global temperatures to 1.5?C. This calls for nothing less than a complete transformation of how we produce, transport and consume energy. The growing political consensus on reaching net zero is cause for considerable optimism about the progress the world can make, but the changes required to reach net-zero emissions globally by 2050 are poorly understood. A huge amount of work is needed to turn today’s impressive ambitions into reality, especially given the range of different situations among countries and their differing capacities to make the necessary changes. This special IEA report sets out a pathway for achieving this goal,...
The energy sector is the source of around three-quarters of greenhouse gas emissions today and holds the key to averting the worst effects of climate change, perhaps the greatest challenge humankind has faced. Reducing global carbon dioxide (CO2) emissions to net zero by 2050 is consistent with efforts to limit the long-term increase in average global temperatures to 1.5?C. This calls for nothing less than a complete transformation of how we produce, transport and consume energy. The growing political consensus on reaching net zero is cause for considerable optimism about the progress the world can make, but the changes required to reach net-zero emissions globally by 2050 are poorly understood. A huge amount of work is needed to turn today’s impressive ambitions into reality, especially given the range of different situations among countries and their differing capacities to make the necessary changes. This special IEA report sets out a pathway for achieving this goal,...
In a world where facts are assaulted, Fatih Birol combines the best of high-tech data, optimistic know-how and old-school rhetorical finesse. A trusted counselor to world leaders, he’s an objective authority on what it will take to slash carbon emissions and save our planet. His data-driven approach is like Moneyball for the clean-energy revolution.
Birol has transformed the International Energy Agency from a body mostly monitoring oil markets into a leading adviser to the world’s major economies across the full suite of energy technologies. Building on over 10 years of analysis, this year his IEA released its first comprehensive road?map for reaching global net-zero emissions by 2050 and minimizing the risk of catastrophic climate impacts. Countries including India, China, Indonesia and Colombia have all asked him to chart road?maps to speed climate action and reach net-zero emissions. When we get there, and if we get there in time, trust that Fatih Birol guided...
S&P500 | |||
---|---|---|---|
VIX | |||
Eurostoxx50 | |||
FTSE100 | |||
Nikkei 225 | |||
TNX (UST10y) | |||
EURUSD | |||
GBPUSD | |||
USDJPY | |||
BTCUSD | |||
Gold spot | |||
Brent | |||
Copper |
- Top 50 publishers (last 24 hours)