IEA

Wind turbines photographed off the coast of Wales. Clean energy investment could be on course to exceed $2 trillion per year by 2030, according to the International Energy Agency.Ben Birchall | PA Images | Getty ImagesInternational Energy Agency Executive Director Fatih Birol told CNBC Thursday that the main driver of clean energy investment was energy security rather than climate change.Namechecking the Inflation Reduction Act in the U.S. and other packages in Europe, Japan and China, Birol said a "major increase in…

Global demand for fossil fuels could peak starting later this decade, according to a prominent energy forecaster, as part of a faster than expected shift that the agency said has been hastened by the energy crisis stemming from Russia’s invasion of Ukraine.The International Energy Agency, a Paris-based group of some of the world’s biggest energy users, said the war and the disruption to energy markets that it has unleashed has set off a realignment of global supply and demand. If governments make good on policy goals they…

A German gas storage facility photographed in September 2022. European countries are attempting to wean themselves off Russian gas following the Kremlin's invasion of Ukraine.Krisztian Bocsi | Bloomberg | Getty ImagesThe executive director of the International Energy Agency on Wednesday said that while Europe's gas storage for this winter was nearly full, the following one could pose a significant challenge.Taking questions following a meeting of the Economic Council of Finland, Fatih Birol said close to 90% of gas…

Tesla electric cars photographed in Germany on March 21, 2022. According to the International Energy Agency, electric vehicle sales are on course to hit an "all-time high" this year.Sean Gallup | Getty Images News | Getty ImagesElectric vehicle sales are on course to hit an all-time high this year, but more work is needed in other sectors to put the planet on course for net-zero emissions by 2050, according to the International Energy Agency.In an announcement accompanying its Tracking Clean Energy Progress update, the…

This image, from March 2022, shows wind turbines in front of the Hamaoka Nuclear Power Station in Japan. The country is now planning to use more nuclear power in the years ahead.Korekore | Istock | Getty ImagesJapanese plans to pivot back to using more nuclear power have been welcomed by the International Energy Agency, with one of the organization's directors telling CNBC it represented "very good and encouraging news."On Wednesday, the prime minister of Japan said his country would restart more idled nuclear power…

A visitor (R) learns about huaneng's high-temperature gas-cooled reactor model at the China International Nuclear Power Industry and Equipment Exhibition 2021 in Yantai, Shandong Province, China, Oct. 19, 2021.Future Publishing | Future Publishing | Getty ImagesNuclear power could be a dominant player in the next-generation clean energy landscape, but that will require concerted action and focus from governments and private industry that is not happening right now, according to the head of the International Energy Agency…

As a resource-rich country on the leading edge of many clean energy technologies, Norway is uniquely well placed for the clean energy transition and now needs to advance strategies to tackle emissions in sectors where they are hardest to reduce in order to meet its ambitious climate targets, a new in-depth policy review by the International Energy Agency (IEA) said on Wednesday.Since the IEA's last policy review in 2017, Norway has remained a global pillar of energy security with its ample reserves of oil and gas produced…

Investments in global energy supplies will jump this year, led by an expansion in no-emission or low-emission capacity but the spending won’t be sufficient to tame soaring energy prices, or meet global climate targets, the International Energy Agency said. The most severe global energy crisis in decades, brought on in part by Russia’s invasion of Ukraine, has caught companies and investors between longstanding efforts to transition to cleaner energy sources and more immediate demands to…

Coal and a wind turbine in Hohenhameln, Germany, on April 11, 2022. A number of major economies have formulated plans to reduce their reliance on Russian hydrocarbons in recent months.Mia Bucher | Picture Alliance | Getty ImagesGlobal energy investment is on course to jump by more than 8% in 2022 and hit $2.4 trillion, with a notable uptick for coal supply chains, but far more money will be required if climate-related goals are to be met, according to the International Energy Agency.Published Wednesday, the latest version…

Sales of electric cars accelerated last year but the availability of critical raw materials such as lithium risked slowing the sector’s growth, a report has warned. At 6.6 million last year, electric vehicle sales more than doubled and they now account for one in 10 new cars sold, according to the International Energy Agency’s annual report on the sector. China alone accounted for half of those sales. Electric vehicle sales continue to soar, rising by 75 percent in the first quarter of this year compared to the same…