International Energy Agency warns shift to renewables too slow Money Talks

15 Nov 2019 · 7 min
7:21

The segment opens with Swedish climate activist Greta Thunberg reflecting on President Donald Trump’s extreme rhetoric, suggesting it may inadvertently raise public awareness about the climate crisis. The hosts then cite the International Energy Agency’s (IEA) latest World Energy Outlook, which warns that global carbon emissions will keep rising by about 100 million tonnes per year until 2040 because oil demand is projected to increase by roughly one million barrels per day each year until 2025, then level off. This trajectory would cause the world to miss the Paris Agreement goal of limiting warming to 1.5 °C, and it would also forfeit economic opportunities tied to renewable energy. The discussion notes China’s near‑monopoly in electric‑bus manufacturing and its potential to fill the gap left by lagging Western policies. The IEA’s carbon‑neutrality timelines—by 2045 for rich nations and five years later for developing ones—are presented as unlikely under current U.S. policy. Energy analyst Omid Shokri joins the studio, reiterating the IEA’s call for governments and the private sector to accelerate renewable deployment and cut fossil‑fuel use. He highlights examples of countries making progress: Germany and the broader EU targeting 35 % renewable electricity by 2035; the UAE and Kuwait pursuing solar; Iran’s solar potential hampered by sanctions; and Turkey’s ambitious wind‑offshore and solar projects aiming for 30 % renewable electricity by 2030, which could reduce dependence on Russian energy and position Turkey as an electricity exporter. Shokri also points to China and India increasing LNG and natural‑gas use as a cleaner bridge fuel, while noting the U.S. under Trump is withdrawing from climate agreements. The segment concludes with a reminder that coordinated action from governments and businesses is essential to mitigate climate change.

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