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Clean investment surge needed: IEA - Global Times


WORLD / EYE ON WORLD
CO2 emissions heading upward in emerging, developing economies
By AFP Published: Jun 09, 2021 04:58 PM
Co2 emission in the US Photo: VCGThe world has no option other than to finance a huge, sevenfold surge in investment into clean energy in emerging and developing economies if climate goals are to be met, an IEA report said Wednesday.
In many emerging and developing economies, emissions are heading upward while clean energy investments are faltering, creating a dangerous fault line in global efforts to reach climate and sustainable energy goals, said IEA Executive Director Fatih Birol.  
The Financing Clean Energy Transitions in Emerging and Developing Economies report calculated that annual clean energy investment must increase more than sevenfold if the world is to reach net-zero emissions by 2050. ....

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Exxon and Chevron's pains won't easily translate to gains


Exxon and Chevron’s pains won’t easily translate to gains
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JINJOO LEE
, The Wall Street Journal
While the largest energy companies are the ones facing the brunt of investors’ scrutiny, it won’t be easy for other producers to take market share
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Developments in the past couple of weeks showed that the two American supermajors Exxon Mobil and Chevron can no longer kick the can down the road when it comes to addressing climate risk. While the heat is on the oil giants, though, their market share won’t exactly be easy pickings for other producers. ....

Clean energy investment needed to avert emissions surge in developing world, says IEA


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BARCELONA (Thomson Reuters Foundation) - Investment in clean energy in emerging and developing economies needs to rise by more than seven times, topping $1 trillion per year by 2030, to put the world on track for net-zero emissions by 2050, the International Energy Agency (IEA) said on Wednesday.
In a report carried out with the World Bank and the World Economic Forum, the IEA said that, without far stronger action, energy-related carbon dioxide emissions from those economies – mostly in Asia, Africa and Latin America – would grow by 5 billion tonnes over the next two decades.
By contrast, carbon emissions are projected to fall by 2 billion tonnes in advanced economies and plateau in China. ....

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