Dear Readers, We deeply regret having been offline for several days due to a technical issue that has now been resolved. We are still facing some minor issues that we hope will not interfere with the quality of the information provided. 
- Renewable energy deployment has to triple from the record hit in 2022 by 2030, while electric cars need to start selling much faster.
Eric Roston, Bloomberg News
NEW YORK
Energiesnet.com 04 23 2023
Clean energy has become so inexpensive, and climate policy aspirations so common, that together they can potentially lower projected global warming to 1.7C above pre-industrial levels in 2100, according to the International Energy Agency.
In a research note published Thursday, the IEA stressed that time is running out to avoid the worst effects of climate change. Despite a temporary drop at the height of the pandemic in 2020, global energy-related carbon dioxide emissions rose to a record high of 36.8 billion metric tons in 2022, it said.
“The window to a credible pathway towards limiting warming to 1.5C in 2100 is therefore rapidly closing,” the authors wrote, referring to the Paris Agreement’s stretch goal for containing global temperature rise.
The report’s release coincides with the Major Economies Forum in Washington, which will be attended by countries responsible for 80% of global gross domestic product and greenhouse gas emissions. US President Joe Biden used the platform to drum up ambition for more aggressive pollution cuts and more finance to help developing countries build clean infrastructure.
Listen to an interview with IEA Executive Director Fatih Birol about when global emissions will peak on Bloomberg Green’s Zero podcast.
The IEA outlined four necessary thrusts of immediate policy and investment that are needed to prevent dangerous global warming by 2100. Its major conclusions assumed that governments will completely meet all their climate pledges on time — even though “limited policies are to date in place to deliver on them,” a United Nations science panel recently wrote.
First, the energy sector needs to generate more electricity with clean sources, ramp up efficiency and electrify gas-guzzlers such as vehicles and home boilers. By 2030, renewable energy installations need to triple from the record 275 terawatt-hours deployed in 2022. Electric cars, which made up 14% of sales last year, need to win 60% of market share by the end of the decade.
Countries must eliminate deforestation by 2030, as 145 of them pledged to do at UN climate negotiations in Glasgow i
Non-CO₂ greenhouse gases from industry and agriculture must fall at least as fast as planned in the 2016 UN pact reached in Kigali, Rwanda, which targets refrigerant gases that trap heat in the atmosphere.
Finally, the IEA said that countries must move faster to install carbon-capture and storage infrastructure for polluting industrial facilities and build operations to suck CO₂ directly out of the air. The 300 million metric tons of CO₂ that’s projected to be captured in 2030 must rise fourfold by 2100 in the IEA’s most aggressive net-zero scenario.
— With assistance by Jennifer A Dlouhy
bloomberg.com 04 20 2023
