Environment and Energy

October 13, 2020
IEA: Pandemic May Set Back Emissions Targets
Written by Sandy Williams
The 2020 pandemic has caused more disruption to the global energy sector than any other event in recent history, says the International Energy Agency in its newest World Energy Outlook. “Whether this upheaval ultimately helps or hinders efforts to accelerate clean energy transitions and reach international energy and climate goals will depend on how governments respond to today’s challenges.”
The COVID-19 crisis has set back green energy investment and as a result IEA has extended its forecast for net-zero global emissions from 2050 to 2070. IEA data forecasts a 5% drop in global energy demand for 2020, a 7% decline in CO2 emissions and an 18% plunge in energy investment. The steepest declines among fuel types are in oil demand (8%) and coal use (7%) followed by more modest decreases in natural gas demand (3%) and electricity demand (2%).


