The International Energy Agency stated that energy groups must stop new oil and gas projects in order to achieve net zero emissions by 2050

The International Energy Agency said that if global warming is to be controlled, the energy organization must stop all new oil and gas exploration projects starting this year.

The proposal is A report Achieve a method of achieving zero net carbon dioxide emissions by 2050, in order to achieve the goal of the Paris Agreement, which is to maintain the temperature not higher than the pre-industrial level by more than 1.5 degrees Celsius.

According to the report, in addition to substantially reducing the consumption of fossil fuels, it is also necessary to achieve unprecedented growth in low-carbon technologies-by 2030, annual energy investment will reach about 500 billion US dollars, and today’s figure is about 20 One hundred million U.S. dollars.

Fatih Birol, head of the Paris-based International Energy Agency (IEA), said on Tuesday: “We need historic investment growth.” He added that this will increase GDP growth by 0.4% per year. “Most of them require clean energy.”

IEA’s net zero report The agency was established in 1974, when oil regulators in Western countries were already under pressure from climate activists to draw up a road map to achieve this goal.

It details a comprehensive reform of energy supply and demand. By 2050, coal demand will drop by 90%, natural gas demand will be cut by half, and oil demand will be cut by nearly 75%.

Dave Jones, an analyst at Ember, a climate think tank, said that given the agency’s history, the report’s call for a halt to new oil and gas exploration is extremely surprising.

“I don’t think anyone expects IEA to do this. For them, this is a huge change,” he said. “This is very conducive to fossils, so it is amazing that something like this appears… This is indeed a sharp weapon in the fossil fuel industry.”

Most economies around the world are bound by some form of net zero emission goal, which means eliminating almost all carbon dioxide emissions and compensating for the remaining carbon dioxide through carbon removal programs.

Although the report is not a forecast or recommendation, many governments believe that the IEA scenario is authoritative and usually forms the basis of energy policy.

As more and more governments (including the United Kingdom, the European Union and China) commit to reducing emissions to zero net value, the IEA report illustrates how daunting the challenge will be to achieve this goal. “This is a narrow road,” Birol said. “But it can still be achieved.”

Many large oil companies and producing countries (such as OPEC oil companies) have long believed that investment in new fossil fuel projects must continue to meet the needs of emerging economies in Asia and Africa.

However, the efforts to reduce fossil fuel consumption simulated by the International Energy Agency (IEA) are far more severe than those prepared by most producers. By 2050, the share of fossil fuels in the global energy supply will need to fall from the current four-fifths to one-fifth. Solar energy will become the largest single energy source, accounting for 20% of global energy demand.

Birol said: “Countries whose economies depend on oil and gas revenue will face huge challenges.” “We have proposed more than 400 milestones, one of which is-there is no need for new oil, gas and coal development. Invest in oil and gas exploration.”

However, the IEA acknowledged that “there is a need to continue to invest in existing oil production resources.”

The report stated that even if oil demand declines, the share of oil production controlled by OPEC will increase, from about 37% of 20% to about 52% in 2050.

It envisages the realization of carbon-free power generation worldwide by 2040, and increases research funding for new technologies such as batteries and hydrogen electrolyzers in the next ten years.

Joeri Rogelj, a lecturer on climate change at Imperial College London, said that the IEA’s net zero scenario is very important.

Improved energy efficiency means that even if the world economy doubles, by 2050, global energy demand will be 8% less than today. Electricity consumption will increase, accounting for about half of total energy consumption by 2050.

Rogelj said: “The government and industry use the IEA as the de facto benchmark for many programs,” Rogelj called on the IEA to develop a net-zero plan.

The previous IEA scenario has been severely criticized for failing to include enough renewable energy and underestimating the development speed of the solar and wind energy world.

Rogelj said: “If you look back at the past ten years, the IEA scenario is always a bit lagging.” “The IEA is just a slow, gray, rusty, dusty machine. It only takes a while… But I am very much. I am glad to see that the IEA has now reached a net zero markup rate.”

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