International Energy Agency

The energy sector is the source of around three‐quarters of greenhouse gas emissions today and holds the key to averting the worst effects of climate change, perhaps the greatest challenge humankind has faced. Reducing global carbon dioxide (CO2) emissions to net zero by 2050 is consistent with efforts to limit the long‐term increase in average global temperatures to 1.5 °C. This calls for nothing less than a complete transformation of how we produce, transport and consume energy. The growing political consensus on reaching net zero is cause for considerable optimism about the progress the world can make, but the changes required to reach net‐zero emissions globally by 2050 are poorly understood. A huge amount of work is needed to turn today’s impressive ambitions into reality, especially given the range of different situations among countries and their differing capacities to make the necessary changes. This special IEA report sets out a pathway for achieving this goal, resulting in a clean and resilient energy system that would bring major benefits for human prosperity and well‐being.

Global urban populations are growing rapidly – and with them, city transport volumes. Urban transport energy consumption is expected to double by 2050, despite ongoing vehicle technology and fuel-economy improvements. Annual global urban transport emissions are expected to more than double to nearly 1 billion annual tonnes of CO2 eq. by 2025. 90% of this growth in urban transport emissions is expected to come from private motorised travel.

The effects of growing travel demand and increasing shifts to private motorisation are leading to escalating roadway congestion that costs billions of dollars in wasted fuel and time. Moreover, motorised vehicle traffic has significant adverse effects on health, contributing substantially to respiratory and cardiovascular diseases from outdoor air pollution, and deteriorated safety in cities, leading to more than 1.3 million deaths per year from traffic accidents. Urgent policy attention to improve the energy efficiency of urban transport systems is thus needed not only for energy security reasons, but also to mitigate the negative climate, noise, air pollution, congestion and economic impacts of rising urban transport volumes and energy consumption.

This policy pathway highlights the holistic transport energy efficiency, city planning and traffic management approaches local and national leaders in Belgrade, New York City, Seoul and more than 30 other cities across Asia, Europe and the Americas are aggressively pursuing. Drawing on these “real-life” case studies, this pathway offers national and local decision makers concrete steps on how to plan, implement, monitor and evaluate key urban transport system policies in order to improve not only energy security, but also quality of life.

Questions about the reliability, affordability and sustainability of our energy future often boil down to questions about investment. But are investors ready to commit capital in a fast-changing energy world? This special report in the World Energy Outlook series takes up this question in a full and comprehensive update of the energy investment picture to 2035 – a first full update since the 2003 World Energy Investment Outlook. With benchmark data on past investment trends and updated projections for investment at regional and global level, the report provides insights into:
- The structure of ownership and models for financing investment in different parts of the energy sector.
- The continued importance of oil investment in the Middle East to meet demand, and the consequences of delay in such investment.
- The dynamics and costs of LNG investment and how this can shape the future of global gas supply.
- Where investment in the power sector might fall short of what is required, with important findings on the reliability of electricity supply in Europe and in India.
- The outlook for investment in low-carbon technologies, including renewables, and energy efficiency and the barriers to their realisation.
- How global investment and financing requirements change if governments take stronger action to address climate change.

Sub-Saharan Africa’ s energy sector can be improved to unlock a better life for its citizens. This report describes one of the most poorly understood parts of the global energy system, offers an authoritative study of its future prospects – broken down by fuel, sector and sub-region – and shows how investment in the sub-Saharan energy sector can stimulate rapid economic and social development across the region.