Paris: The world has a viable path to build a global energy sector with net zero emissions by 2050, but it is narrow and requires an unprecedented transformation in the way energy is produced, transported and used around the world, a the International Energy Agency (IEA) said in a landmark special report released Tuesday.

Governments’ climate commitments to date – even if fully met – will fall far short of what is needed to bring global energy-related carbon dioxide (CO2) emissions to net zero by 2050 and give the world an equal chance to limit the global temperature rise to 1.5 degrees Celsius, according to the report titled “Net Zero by 2050: A Roadmap for the Global Energy Sector “.

The report is the world’s first comprehensive study on how to move to a net zero energy system by 2050 while ensuring a stable and affordable energy supply, providing universal access to energy and enabling growth economical robust.

It sets out a profitable and economically productive path, resulting in a clean, vibrant and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels.

The report also examines key uncertainties such as the roles of bioenergy, carbon capture and behavioral changes to achieve net zero.

“Our roadmap shows the priority actions that are needed today to ensure that the possibility of net zero emissions by 2050 – narrow but still achievable – is not lost,” said the executive director of the AIE, Fatih Birol.

“The scale and speed of effort demanded by this critical and formidable goal – our best chance at tackling climate change and limiting global warming to 1.5 degrees Celsius – make it perhaps the greatest challenge facing the world. humanity has never been confronted, ”he said in a statement.

“The IEA’s path to that brighter future is driving a historic increase in investment in clean energy that is creating millions of new jobs and driving global economic growth.” Moving the world forward on this path requires strong and credible political action on the part of governments, supported by much greater international cooperation. “

Building on the IEA’s unrivaled energy modeling tools and expertise, the roadmap sets out over 400 milestones to guide the global journey to net zero by 2050. These include no investment in new fossil fuel supply projects and no further final investment decisions for relentless new coal. plants today.

By 2035 there will be no sales of new internal combustion engine passenger cars and by 2040 the global electricity sector has already achieved net zero emissions.

In the short term, the report describes a path to net zero that requires the immediate and massive deployment of all available clean and efficient energy technologies, combined with a major global push to accelerate innovation.