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Investment in next-generation geothermal is surging. Policies are key to further growth
Next-generation geothermal readies for take-off Next-generation geothermal is seeing a burst of financing, innovation and new supply agreements Geothermal energy harnesses naturally occurring heat found beneath the Earth’s surface to provide heating and cooling, electricity and energy storage. As global electricity demand rises and power systems place a growing premium on firm supply, geothermal energy’s ability to provide an around-the-clock, low-emissions source of power is attracting renewed attention. However, easy-to-access conventional geothermal resources are relatively rare and mostly confined to a small number of shallow geothermal hotspots globally, accounting for…
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Pledges to Progress 2025
An assessment of transparency of the oil and gas industry’s emissions reduction efforts At COP28, more than 50 of the world’s leading oil and gas companies launched the Oil and Gas Decarbonization Charter (OGDC), laying out a series of ambitions to achieve net zero operational emissions by 2050. As global methane and flaring emissions continue to rise, these ambitions are more important than ever to reduce energy waste and mitigate the harmful consequences of climate change.To support accountability and transparency, the International Energy Agency (IEA), the United Nations Environment Programme (UNEP) International Methane Emissions Observatory (IMEO) and…
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Global Energy Review 2026 Global trends
Demand for all fuels and technologies grew in 2025 Global energy demand grew by 1.3%, or 8 exajoules (EJ), in 2025. This represents a notable slowdown in energy demand growth from 2024, when it increased by 2%. A range of factors explain this. Firstly, although the global economic expansion remained robust, the rate of growth was slightly slower than in 2024, with slower growth in energy-intensive industries in some regions. Secondly, lower temperatures relative to 2024 led to lower cooling demand. Thirdly, energy intensity improvements accelerated.All energy sources contributed to meeting global energy demand growth in 2025…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Oil Market Report - February 2026
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Global oil demand is forecast to rise by 850 kb/d in 2026, up from 770 kb/d last year. As in 2025, non‑OECD economies will account for the entire increase, with China taking the lead on a country level. Petrochemical feedstock products will represent more…
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Global Energy Review 2025 Global trends
Energy demand accelerates, with electricity leading the way Different elements of the world’s energy system saw very different rates of growth in 2024, reflecting both the impact of short-term factors and deeper structural trends. Global energy demand grew by 2.2% in 2024, a notably faster rate than the annual average of 1.3% seen between 2013 and 2023. This uptick was partly due to the effect of extreme weather, which we estimate added 0.3 percentage points to the 2.2% growth. Despite this, energy demand grew more slowly than the global economy, which expanded by 3…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 3 pages
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World Energy Outlook 2025 Net Zero Emissions by 2050
Acting now to limit overshoot The Paris Agreement set the global goal of limiting warming to well below 2 °C and pursuing efforts to limit it to 1.5 °C. The IEA Net Zero Emissions by 2050 Scenario (NZE Scenario) translates the 1.5 °C goal into a global pathway for the energy sector. The updated NZE Scenario presented here takes account of the most recent data and trends. Each country will tailor its own path to net zero emissions. The updated NZE Scenario is based on four central pillars that are widely applicable: clean energy electrification, energy efficiency, low-emissions fuels and methane abatement. The…
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Global Energy and Climate Model Stated Policies Scenario (STEPS)
The Stated Policies Scenario (STEPS) has a long pedigree in the International Energy Agency (IEA) family of scenarios. It was introduced in 2019 with this name, but it has much in common with the previous New Policies Scenario that dates back to the 2010 edition of the World Energy Outlook (WEO). The intention of this scenario is to reflect the prevailing direction of travel for the energy system based on a detailed reading of the latest policy settings in countries around the world. It takes into account specific energy, climate and related industrial policies that have been adopted or put…
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Global EV Outlook 2025 Electric vehicle batteries
Trends in battery demand Global battery demand for the energy sector hit the 1 TWh milestone in 2024 Electric cars remain the main driver of battery demand, but demand for trucks nearly doubledBattery demand in the energy sector, for both EV batteries and storage applications, reached the historical milestone of 1 TWh in 2024. Demand for one average week alone in 2024 exceeded the total demand for an entire year just a decade earlier. Demand was largely driven by growth in EV sales, as demand for EV batteries grew to over 950 GWh – 25% more than in 2023. Electric cars remain the…
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Cement
Country and regional highlights
Major policy developments of the last year hold promise for reducing emissions from the cement sector and increasing public procurement of low-carbon concrete
CO2 emissions
Cement emissions remain stubbornly high – the development and deployment of new technologies is essential to get on track with the NZE Scenario
Energy
Activity
Technology deployment
Innovation
Supporting infrastructure
Policy
International collaboration
Private sector strategies
Acknowledgements
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Financing Clean Energy in Africa Designing finance solutions for clean energy: solutions for key sectors
Summary The doubling of energy investment in Africa seen under the Sustainable Africa Scenario (SAS) requires innovative solutions to fully mobilise capital from a range of providers – national governments, DFIs and private capital. Private capital plays a key role by 2030, increasing sixfold from today’s levels, but understanding where it can be deployed is essential to enable the design of targeted interventions. And there are still some countries and sectors where grants and concessional funding need to lead. Achieving universal access to modern energy requires a major uptick in spending, reaching roughly USD 25 billion per year by 2030. Affordability constraints…
