Christopher Schuler, christopher.schuler@sierraclub.org
Washington, DC – A new report from the International Energy Agency (IEA) released this week shows that the pathway remains open for the global energy sector to meet the Paris Agreement’s goal of limiting the rise in global temperatures to 1.5 °C above pre-industrial levels. The IEA, the world’s leading energy analysis and policy organization, notes this can be accomplished through accelerating clean energy adoption and electrification efforts while slashing methane emissions drastically. The report states that cutting methane emissions by 75 percent remains one of the cheapest and most effective methods of staying on the path.
The report also shows that demand for fossil fuels will decline earlier than anticipated due to increasingly volatile oil prices and the rapid increase in clean energy, stating that “there is no need for investment in new coal, oil and natural gas.” Last week, more than 75,000 people joined the March to End Fossil Fuels, calling on world leaders to stop approving new fossil fuel infrastructure.
The IEA’s first Net Zero Roadmap, released in 2021, was an important landmark that made clear that in order to achieve net-zero by 2050, there would be no room for new expansion of oil, gas and coal production. This sent a powerful message to governments, industry, and financial institutions that have made net-zero commitments but continue to support new fossil fuel development. The 2023 update of the Roadmap reaffirms this key finding and underscores the fact that corporate and financial sector climate pledges are not credible if they do not stop fossil fuel expansion.
In response, Sierra Club Director of Climate Policy Patrick Drupp released the following statement:
“Once again, we’ve been handed a report demonstrating the urgent need for an all hands on deck approach to avert the worst of the climate crisis. Yesterday’s IEA report is yet another critical data point demonstrating the increasing irrelevance of fossil fuels in the future of our planet. Here in the United States, that will mean further engaging the public and private sectors to meet this moment and help save the world. The Biden administration must do everything in its power to build on the progress it has already made in transitioning to a clean energy economy.”
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About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.