The International Energy Agency (IEA) released a report last week detailing the steps necessary to eliminate carbon emissions from the global economy by 2050 and avoid the worst effects of climate change. The report, “Net Zero by 2050: A Roadmap for the Global Energy Sector,” calls for a shift away from carbon-emitting energy sources and a massive expansion of clean energy, including nearly doubling nuclear energy and an unprecedented scaling up of wind and solar.
“The scale and speed of the efforts demanded by this critical and formidable goal—our best chance of tackling climate change and limiting global warming to 1.5 degrees Celsius—make this perhaps the greatest challenge humankind has ever faced,” said IEA Executive Director Fatih Birol.
We are in an urgent moment and the IEA’s assessment puts into sharp relief the work that lies ahead. According to the IEA and other climate advocates, now is the time to act to reduce carbon emissions.
We asked two of our experts about whether this warning will be enough to drive change in policy and corporate decision-making and the climate actions they hope to see next.
Matt Crozat is the senior director of strategy and policy development and specializes in energy policy:
“We need policymakers to take the urgency displayed in the IEA’s latest report to heart. Their assessment highlights just how important a carbon-free electricity system will be in achieving a net zero emission global economy and that nuclear energy will be an important part of it. The use of nuclear electricity doubles in the IEA analysis, even as part of a scenario that sees dramatic expansions of wind and solar combined with aggressive goals for energy efficiency. As nuclear technologies become more economically attractive, its use would be poised to expand even further.”
Monica Trauzzi is senior director of external communications and host of “Off the Menu,” which recently concluded a series of episodes on environmental, sustainability and governance (ESG) criteria and impact investing:
“Events during this year’s proxy season send a clear signal that investors want to see the business community act on climate. IEA’s guidance bolsters trends we are already seeing on the ground. A key area for growth: updating ESG guidelines so that they are less performative and more focused on driving an impact.”
