If INDC pledges are met, global energy-related emissions will all but halt by 2030, the International Energy Agency (IEA) said Wednesday.
Its World Energy Outlook (WEO) special briefing found that all of the INDC submissions take into account energy sector emissions – which account for two-thirds of total GHGs – and many include specific targets or actions to address them.
If these pledges are met, then countries currently accounting for more than half of global economic activity will see their energy-related emissions either plateau or be in decline by 2030, said the IEA, which advises industrialised nations on energy policy.
Global energy intensity, a measure of energy use per unit of economic output, would improve to 2030 at a rate almost three times faster than the rate seen since 2000. In the power sector, 70% of additional electricity generation to 2030 would be low-carbon.
The power sector would see emissions plateau at close to today’s levels, effectively breaking the link between rising electricity demand and rising related CO2 emissions.
The full implementation of these pledges will require the energy sector to invest $13.5 trillion in energy efficiency and low-carbon technologies from 2015 to 2030, an annual average of $840 billion.