CNBC's Anmar Frangoul is reporting that the IEA is listing ‘crucial ingredients’ to keep worst effects of climate change at bay.
COP28, set to be held in Dubai, will be a critical summit where governments, businesses, and NGOs review progress towards the Paris Agreement's goal of limiting global warming to 1.5 degrees Celsius. The International Energy Agency (IEA) emphasizes the urgency of this task in its World Energy Outlook report, highlighting that current fossil fuel demand is too high to meet the Paris targets. The IEA proposes five key strategies: tripling renewable energy installations, reducing fossil fuel use, cutting methane emissions from fossil fuels by 75%, boosting clean energy investments in developing economies, and doubling the rate of energy efficiency improvements by 2030. These measures aim to create a sustainable, equitable future, with the IEA's executive director Fatih Birol urging global cooperation and tailored national strategies to achieve these goals ahead of COP28.
(This article was written with assistance from ChatGPT)