By Mathew Carr
May 18, 2021 — LONDON: The International Energy Agency’s 1.5C Scenario has some eyebrow-raising characteristics, including “no new oil and gas fields approved for development, no new coal mines or mine extensions” starting about now.
About 4 billion tons of CO2 will be captured in 2035.
It’s not the pathway but a pathway: IEA’s Fatih Birol.
Most of the technology that will provide the emission reductions in 2050 is “under development, the IEA said.
There really will be a jobs boom.
But oil and gas producing nations will see a plunge in per-capita fossil fuel revenue — from $1,800 to $450 by 2030.
Developing countries need help to transition, otherwise the 1.5C target won’t be hit: Birol.
Heavy industry transforms:
Existing projects for electrolysers already come to 110 GW in 2030, still only a fraction of the 850 GW needed by that year, the IEA said:
More detailed version of initial chart:
(Adds charts, Birol)