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COP28: Tracking the Energy Outcomes
…tripling global renewable energy capacity and doubling global energy efficiency improvements by 2030, and deploying emerging technologies, such as low-emissions hydrogen and carbon capture.The IEA, in collaboration with the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, is tracking progress towards the energy objectives established at COP28. This forms part of our broader work, at the request of governments, to support the full and timely implementation of the energy promises made in Dubai by identifying pathways forward and providing policy makers with advice on accelerating national and secure clean energy transitions. The IEA's landmark 2024 report…
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Investment
…participation across geographies. Participants representing a diverse range of financial institutions are invited to attend an annual event hosted at the IEA headquarters in Paris, and regional summits – the latest held in Singapore – are also organised to encourage broad participation across geographies. Investment in clean energy this year is set to be twice the amount going to fossil fuels Key findings Global energy investment set to hit record in 2025 despite headwinds Total energy investment worldwide is poised to grow by 2% in 2025 to $3.3 trillion, reaching an all-time high despite elevated geopolitical tensions and economic uncertainty…
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Climate Change
…global warming to 1.5 °C, as called for by the Paris Agreement, and avoiding the worst effects of climate change.The rapid growth of some clean energy technologies in recent years – including electric cars, solar PV and batteries – has kept the door to 1.5 °C open. Yet meeting this target would require much faster progress on a much larger scale, IEA analysis shows – with even greater international co-operation and ambition from policy makers, as well as the swift and full implementation of the energy commitments made at the COP28 climate summit in Dubai. These include the global…
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Net Zero Emissions
…2021, outlining what would be required within the energy sector to achieve this goal at the global level by mid-century. An update to the Roadmap, which has served as an essential benchmark for policy makers, industry, the financial sector and civil society, was published in 2023.The Roadmap is based on the IEA’s Net Zero Emissions (NZE) Scenario, which portrays a pathway for the global energy sector to achieve net zero carbon dioxide (CO2) emissions by 2050 while maintaining energy security. This scenario is consistent with keeping long-term global warming to 1.5 °C with limited overshoot…
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Critical Minerals
…refining and processing. For copper, lithium, nickel, cobalt, graphite and rare earth elements, the average market share of the top three refining nations rose to 86% in 2024 from around 82% in 2020, with almost all supply growth coming from the single top supplier: Indonesia for nickel, and China for all others.
While policy makers have woken up to the challenges, based on today’s policy settings and investment trends, the average share of the top three suppliers is projected to decline only marginally over the next decade, effectively returning to the concentration levels seen in 2020. Despite narrowing supply… -
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Energy Security
…and a plethora of additional risks, such as the growing threat of cyberattacks and the increasing frequency of extreme weather events. One of the IEA’s key tools is an oil stockholding system that requires member countries to hold stocks equivalent to at least 90 days of their net oil imports. IEA members are also obliged to maintain demand restraint programs to rapidly reduce oil consumption during disruptions.The IEA’s oil emergency response mechanisms have proven to be a key stabilising force in global oil markets. Since 1991, the IEA has coordinated six collective responses to major oil supply…
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The Middle East and Global Energy Markets
…terminals loading outside of the Strait of Hormuz. Producers outside the Middle East have also pushed output higher and lifted exports to record levels in response to the crisis. Even so, supply losses stemming from the Middle East disruptions have depleted global oil inventories at the fastest pace on record. Global observed oil stocks have declined by 3.8 million barrels per day on average since the start of the war, with a sizeable draw of 143 million barrels in May alone, according to preliminary data.Our latest monthly Oil Market Report has more. It emphasises that fully resuming flows through…
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Russia's War on Ukraine
The new energy world The global energy landscape has changed dramatically The energy sector continues to feel the effects of Russia’s invasion of Ukraine, which in February 2022 sparked the first truly global energy crisis. Two years on, energy prices have pulled back from record highs, but trends vary widely among regions. In many parts of the world, prices are still elevated – holding back economic growth, straining the finances of households and businesses, and complicating efforts to improve access to electricity. Energy markets, faced with an unusually high degree of geopolitical uncertainty, remain on edge.In Ukraine, the energy sector…
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Energy and Water
Energy and water are deeply and fundamentally connected Water is essential for almost every aspect of producing energy, from electricity generation to fossil fuel extraction to biofuels cultivation. In fact, the energy sector accounts for roughly 10% of all global freshwater withdrawals. Meanwhile, energy is crucial to maintaining global water supply. It is needed to extract water from lakes, rivers and oceans; lift groundwater from aquifers and pump it through pipes and canals; and treat water and deliver it to users.This interdependence is set to intensify in the coming years. Each resource faces rising demand and growing constraints in many…
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Energy and Gender
It comprises a number of senior officials from IEA Member countries, facilitating the exchange of best practices on gender equality and inclusion and gender mainstreaming across the energy sector. Women are vital energy consumers, producers and decision-makers who make a crucial contribution to global energy security and energy transitions. Building a more secure, fair and equitable energy future hinges on their active participation.Recognising this, the IEA’s Member countries have asked the Agency to focus on key issues at the nexus of energy and gender, from improving gender data collection to expanding analysis of the gender dimensions of…