Electric vehicles and solar power are growing quickly and offering hope the world could still meet climate change goals.
shows that the transition from fossil fuels to cleaner forms of energy will have to speed up even more in the coming decade. For example, the world is on track to spend $1.8 trillion on clean energy this year. To meet the target outlined in the 2015 Paris climate agreement among the world's nations, the IEA finds annual spending would have to more than double to $4.5 trillion by the early 2030s.
As renewable energy costs continue to decline, the IEA says tripling installations of new renewable energy, mostly solar and wind power, will be the biggest driver of emissions reductions. But the agency warns countries will have to speed up permitting and improve their electricity grids for that power to get to where it's needed.controversial Willow project
the Biden administration approved in Alaska earlier this year. The roadmap does leave room for some new oil and gas drilling to avoid"damaging price spikes or supply gluts." The report comes as countries prepare to meet for an annual climate summit in Dubai at the end of November and amid calls to"It's an extraordinary moment in history: we now have all the tools needed to free ourselves from planet-heating fossil fuels, but there's still no decision to do it," said Kaisa Kosonen with Greenpeace International in a
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