All fossil fuel exploration needs to end this year, IEA says

Silhouette Oil Pumps On Field Against Cloudy Sky During Sunset

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To limit global warming to 1.5˚C by the end of the century, the world has to deploy clean technologies en masse while slashing investment in new oil, gas, and coal supplies, according to a new report by the International Energy Agency.

Getting to net zero carbon emissions by 2050 will require a historic deployment of widespread renewable power, electric vehicles, and new technologies, many of which are only now in the prototype stage. To get a jump-start, we’ll need to double our investments in clean technologies to $4 trillion by the end of the decade.

“The pathway to net zero by 2050 is narrow but still achievable if governments act now,” IEA executive director Fatih Birol said in a tweet. Most of the reductions in CO2 emissions through 2030 come from technologies already on the market. But in 2050, almost half come from technologies that, while known, are still in development now.