Subsidies for fossil fuels increased in 2021

According to a new analysis by the Organization for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA), the annual support for fossil fuels doubled in 2021 to nearly $700 billion, slowing progress towards global community climate goals. Economic recovery contributed to the increase in subsidies and it will rise even more in

Global dependence on China for solar panels needs to be curtailed: IEA

International Energy Agency (IEA) says that countries must reduce dependence on China’s production of solar panels to reach net-zero emissions. IEA in its report said that while China’s policies and innovation have made solar power more affordable, its domination of the sector has also resulted in “imbalances” in supply chains. China has been instrumental in

Half of fossil fuel production sites must be shut down to limit global heating

Nearly half of existing fossil fuel production sites need to be shut down early if global heating is to be limited to 1.5C, the internationally agreed goal for avoiding climate catastrophe, according to a new scientific study. The assessment goes beyond the call by the International Energy Agency in 2021 to stop all new fossil

Cutting oil demand can hurt Russia: IEA

Responding to Russia’s invasion of Ukraine, the International Energy Agency (IEA) unveiled a 10-point plan recently to slash oil demand in developed economies by about 2.7 million barrels a day within four months. Reducing demand will make it a lot easier to impose tough sanctions on Russian exports, but the proposals also serve the longer-term

What is the future of hydrogen?

Hydrogen is widely seen as a crucial weapon in the fight to avert the catastrophic consequences of a post-2°C world. A world in which, according to the Natural Resources Defence Council, rising global temperatures would cause widespread human and agricultural devastation while disproportionately affecting lower-income communities.  Pre-pandemic, the urgency of facilitating a global switch to

Supporting clean energy start-ups becomes more vital with energy crisis

Periods of energy disruption, like the one we are seeing today, offer an opening for disruptive technologies. A helping hand for clean energy start-ups can help respond to the current energy crisis while also accelerating progress towards climate targets. A new IEA report released today, on How Governments Support Clean Energy Start-Ups, provides a timely

Energy-related CO2 emissions touched record highs in 2021

Energy-related carbon dioxide emissions rose to their highest level in history last year, according to the International Energy Agency, as economies rebounded from the coronavirus pandemic with a heavy reliance on coal. The IEA found energy-related global CO2 emissions increased by 6% in 2021 to reach a record high of 36.3 billion metric tons. In

India may draw on oil reserves to soften prices

India may tap its emergency oil stockpile to cool off prices that have surged on concerns that Russia’s invasion of Ukraine will disrupt global supplies. The government is closely monitoring international energy markets as well as potential supply disruptions, the oil ministry said on Saturday. “India is also committed to supporting initiatives for releases from

Energy sector methane emissions 70% higher than official figures: IEA

Emissions of the potent greenhouse gas methane coming from the global energy sector are 70% higher than officially reported, the International Energy Agency (IEA) said on Wednesday, with the coal sector identified as the biggest single source. In its 2022 Global Methane Tracker report, the Paris-based watchdog said the world needed to step up its

Government must legislate to end fossil fuel investments

It is simple maths. No matter how many new renewables we build, if we keep increasing the amount of fossil fuels we burn, global carbon emissions will continue to rise. To have any hope of cutting emissions, the basic first step must be to stop investing in fossil fuels — hence The Independent’s Stop Fuelling