ENERGY AGENCY: ‘RADICAL ACTION' NEEDED TO HIT CLIMATE GOALS

The world must take “radical action” by investing $5.7 trillion in private and public money each year through 2030 to shift away from fossil fuels and ensure the planetary warming they cause doesn’t pass dangerous thresholds, the International Renewable Energy Agency says.

In a 348-page report published this week on the state of the global energy transition, the agency said a massive increase in solar and wind power generation is needed, along with improved energy efficiency, electrification of transport and heating systems, expanded use of hydrogen made with renewables and greater efforts to capture carbon emissions.

Scientists say global emissions need to drop 45% by the end of this decade compared to 1990 levels. But recent data show that despite rapid growth in renewable energy, total emissions are going up, not down amid rising energy demand and the expansion of fossil fuel use.

“The energy transition is far from being on track and anything short of radical action in the coming years will diminish, even eliminate, chances to meet our climate goals,” said Francesco La Camera, the director-general of IRENA.

Countries agreed seven years ago in Paris to limit global warming to 2 degrees Celsius (3.6 Fahrenheit), ideally no more than 1.5C (2.7F), to avoid potentially catastrophic consequences for the planet. With temperatures now more than 1.1 degrees C above the pre-industrial average, a recent report by a U.N. science panel found that billions around the world are already vulnerable to climate disruption.