Demand for fossil fuels is expected to peak this decade
Energy sector carbon emissions to peak in 2025 – IEA
New policies in the EU, the US and China will cause emissions to peak this decade, the first time this has been forecast in an IEA Steps scenario
New policies announced by governments around the world mean global energy‐related CO₂ emissions will peak in 2025, according to the IEA’s most recent World Energy Outlook. The US Inflation Reduction Act, the EU’s RepowerEU package and new targets in China mean that annual clean energy investment will rise to $2tn by 2030 from $1.3tn today, according to the IEA’s stated policies scenario (Steps) which is based on concrete actions taken by nations. This will cause demand for fossil fuels to peak this decade—the first time this has been forecast in an IEA Steps scenario. The scenario shows global energy‐related CO2 emissions peaking at 37gt/yr in 2025, before falling back to 32gt/yr by 2050. Th
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