IEA: world in midst of 'uneven and unsustainable economic recovery'

Fatih Birol, IEA Executive Director, says: “On the eve of the G20 Leaders’ Summit and the COP26 Climate Change Conference, governments of major economies need to show they are ready to drive a massive scaling up of investments in clean energy globally and steer the world onto a safer path. Failure to put their money where their mouth is could well mean failure to keep the door open to limiting global warming to 1.5 °C.”

Official Press Release IEA:

Despite some increases in clean energy investment, world is in midst of ‘uneven and unsustainable economic recovery’ – with emissions set for 2nd largest rebound in history

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New update of IEA’s Sustainable Recovery Tracker shows clean energy accounts for just 3% of recovery spending to date, with stark imbalance between advanced economies and developing world

Spending on clean energy amounts to 3% of the USD 16.9 trillion that governments have so far mobilised to bolster their economies from the recession triggered by the Covid-19 pandemic, according to the latest update from the International Energy Agency. The share is up from around 2% in July but still leaves global carbon dioxide (CO2) emissions on an upward trajectory, with this year set to be the second largest annual increase in history. Governments have increased the amount of their economic... ... More: Official Press Release IEA