Perspectives for the energy transition: Investment needs for a low-carbon energy system

This joint study looks at the potential for decarbonisation in the energy sector in G20 countries and around the world. Chapter 3, “Global Energy Transition Prospects and the Role of Renewables”, highlights findings from the International Renewable Energy Agency (IRENA).

Note: CO₂ emissions include energy-related emissions (fossil fuel, waste, gas flaring) and process emissions from industry. If only fossil fuel emissions were displayed in this figure, CO₂ emissions in 2050 would be at 42 Gt and 10 Gt per year in the Reference Case and REmap, respectively.

See the full report or the executive summary.

Decarbonisation of the energy sector requires urgent action on a global scale. Around two thirds of global greenhouse gas emissions can be attributed to fossil fuel energy supply and use. Carbon emissions must be reduced considerably faster to mitigate the effects of climate change.

To meet the climate goals set in the Paris Agreement and keep the global temperature rise to below 2 degrees, the carbon-dioxide (CO₂) emission intensity of the global economy would need to be reduced by 85% in 35 years. This means reducing energy CO₂ emissions by 2.6% per year on average, or 0.6 gigatonnes (Gt) per year in absolute terms.

Read the International Renewable Energy Agency (IRENA) story - “Perspectives for the energy transition: Investment needs for a low-carbon energy system.”