Emission reduction pledges under the Paris Agreement have accelerated the deployment of low-carbon technology but not fast enough, according to the International Energy Agency (IEA).
The IEA’s latest World Energy Outlook published on Wednesday found that investment is shifting increasingly towards renewable energy and other low-carbon technologies. Of the $44 trillion global investment in energy supply up to 2040, 60% will be spent on fossil fuels, down from 70% in the past 15 years. And almost 20% will go to renewables, according to the IEA.
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