Subsidies for fossil fuels doubled in 2021 and continue to increase
Support for fossil fuels doubled in 2021 compared to the year before to nearly USD 700 billion, slowing progress toward climate goals
EU’s renewable power capacity additions jump 30% in 2021
The world as a whole also set a fresh record in new renewables capacity last year, adding almost 295 GW
Coal use pushes global energy-related CO2 emissions to all-time high in 2021
The increase in the use of coal last year was the main factor driving the record global rise in energy-related CO2 emissions, IEA found
IEA: Rising demand for electricity could result in high prices over next three years
Average wholesale electricity prices in Europe in the fourth quarter of 2021 were more than four times as high as their 2015-2020 average
IEA: Global coal power output to rise 9% in 2021 to all-time high
With electricity demand outpacing low-carbon supply and a spike in gas prices, coal power output is up 9% this year, at 10.35 PWh, IEA says
IEA Global Hydrogen Report 2021: World needs decisive action to cut costs of low-carbon hydrogen production
Governments need to take decisive action to enable low-carbon hydrogen to fulfill its potential and help the world reach net zero emissions by 2050.
IEA: Green energy is key for cutting global net emissions to zero by 2050
Achieving net zero greenhouse gas emissions by mid-century requires a complete transformation of the energy system, IEA warns
Renewables are several times more profitable than fossil fuels
Investors in renewable power continue to outpace fossil fuel across the globe, according to the Imperial College and IEA. Total return has been 367% higher over the last ten years. The investment case for green energy is clear and the global renewables portfolio is less correlated to the broader market than the global fossil fuel […]