Collaboration crucial for lower carbon pathways

ACHIEVING lower carbon pathways requires a pragmatic approach that balances ambition with action in this high-stakes environment.

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While renewables will more than double by 2040, oil will stay above 100 million barrels per day (bpd) beyond 2040, increasingly used for materials.

Clean power surpassed 40 per cent of global electricity generation in 2024, driven by record growth in renewables, especially solar.

Solar power has become the engine of the global energy transition, with generation doubling over the last three years to reach over 2,000 TWh.

Solar was the largest source of new electricity generation globally for the third year in a row, adding 474 TWh.

However, heatwaves contributed to high growth in electricity demand which resulted in a small increase in fossil generation, driving up power sector emissions to an all-time high.

Global energy-related CO2 emissions reached a record 38.2 gigatonnes in 2024.

In IEA's Stated Policies Scenario (STEPS), global energy-related CO2 emissions will peak in the next few years and fall to around 35 gigatonnes by 2035.

By 2050, global CO2 emissions in this scenario will be below 30 gigatonnes, a level last seen in 2005.

The share of fossil fuels in the global electricity generation mix declines from 60 per cent in 2024 to less than 40 per cent by 2035 and just 20 per cent by 2050 in the STEPS.