The International Energy Agency (IEA) said the crisis provoked by the war could be a “historic turning point towards a cleaner and more secure energy system” as countries like the US, China and Japan respond with a shift to clean power and technology such as electric cars.
“Energy markets and policies have changed because of Russia’s invasion of Ukraine, not just for the time being, but for decades to come,” said IEA executive director Fatih Birol. “Even with today’s policy settings, the energy world is shifting dramatically before our eyes.”
The IEA’s world energy outlook for 2022 said that, for the first time, its scenario based on current policies by governments worldwide sees global demand for every fossil fuel peaking or plateauing. As a result, global emissions will peak in 2025, before falling slowly.
But the report warned this is far from enough to avoid severe climate change impacts, with temperatures set to hit a dangerous 2.5°C rise by the...