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Asia snubs IEA s call to stop new fossil fuel investments

Japan was the region s third-largest carbon emitter in 2019, after China and India. - Reuters MELBOURNE (Reuters): Asian energy officials on Wednesday (May 19) disputed the International Energy Agency s (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero carbon emissions by 2050, viewing that approach as too narrow. The IEA, which has previously championed the oil and gas industry, this week outlined a path to net-zero emissions that suggested stopping new investments in oil, gas and coal supply, retiring coal-fired plants in advanced economies by 2030, and banning sales of new internal combustion engine cars by 2035.

COLUMN-IEA call to end fossil fuels likely to fall on deaf

GRAPHIC - IEA s pathway to net zero emissions: https://tmsnrt.rs/3fpTPlJ By Clyde Russell LAUNCESTON, Australia, May 20 (Reuters) - It is probably just ironic coincidence, but the same day the International Energy Agency (IEA) called on the world to end fossil fuel investments, the Australian government announced plans for a new, $460 million natural gas-fired power plant. The stark contrast between the two announcements is, however, emblematic of the challenges the world faces in transitioning from fossil fuel energy to cleaner renewables as efforts to combat climate change become more urgent and widespread across the globe. The IEA s report on the pathway to net zero carbon emissions by 2050, released on May 18, warned that investment in oil, natural gas and coal projects must come to an end if the target has any chance of being reached.

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