CAN: Governments and Investors must immediately embark on transformational changes in line with the 1.5°C pathway, as signaled in the new International Energy Agency´s 2021 World Energy Outlook.

13 October 2021

Wednesday 13 October 

For the first time, the annual World Energy Outlook (WEO) released today by the International Energy Agency (IEA) sets an ambitious climate scenario as the basis for rapid policy and investment shifts to limit global temperature increase to 1.5°C needed to avert more dangerous climate impacts, especially for vulnerable communities and ecosystems.. 

Climate Action Network (CAN) considers this a move in the right direction that echoes the IEA´s Net Zero by 2050 report released back in May this year. These two reports send a clear signal  to governments and investors that there should be no new investments in coal, oil and gas as of now if we want to stay within the limits of 1.5°C and avoid more climate-related losses and damages around the world. 

“CAN welcomes the recognition by the IEA that a just and full transformation of our energy system in line with the 1.5°C scenario is the cornerstone to resolving the climate crisis. There is no substitute for rapid, radical emission reductions. We also agree with the WEO’s recommendation to governments and the finance sector to stand on the right side of history and stop investing in new fossil fuel production and instead quadruple the annual investments in renewable energy and energy efficiency within this decade in order to protect millions from climate disaster. At present global temperature rise of 1.1°C, people are already suffering from the consequences of inaction and pollution caused by rich countries and the fossil fuel industry and with no compensation for the losses and damages they are bearing” said Tasneem Essop, CAN International Executive Director.

“The strong action recommended in the WEO to cut emissions, particularly in rich economies, is a significant step forward. But we are still concerned by some of the suggested but highly risky technologies to curb carbon pollution such as doubling the global production of nuclear power. CAN advocates the move to 100% sustainable renewable energy” said Stephan Singer, Senior Advisor Energy Policy, CAN International.

CONTACT

Hala Kilani, Climate Action Network International hkilani@climatenetwork.org / +961 3 567928

ABOUT CLIMATE ACTION NETWORK

Climate Action Network (CAN) is the world’s largest network of over 1500 NGOs in more than 130 countries, working together to fight the climate crisis. More information on www.climatenetwork.org