LONDON, 1 May, 2020 − One of the pillars of industrial society is tottering: global fossil fuel demand is buckling, with only renewable energy expected to show any growth this year.
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| Protest in Birmingham, UK: An echo of the IEA’s warning. |
Oil prices are going through the floor. The market for coal and gas is shrinking fast. And global emissions of climate-changing greenhouse gases are set to fall in 2020 by 8%, the largest annual decrease in emissions ever recorded.
The latest report by the International Energy Agency (IEA), the global energy watchdog, will make sobering reading for those involved in the fossil fuel industry – and hearten those fighting against a warming world.
The Covid-19 pandemic has brought death, pain and suffering around the world and is causing widespread economic and financial hardship.
But it’s become clear that the Covid crisis has done something that years of climate change negotiations have failed to do – it has not only forced us to change the way we live our lives, but also dramatically altered the way we use the planet’s resources, in particular its energy supplies.
Read the story from Climate News Network by Kieran Cooke - “Global fossil fuel demand’s ‘staggering’ fall.”
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