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IEA Report: Clean Energy Investment Boom to Lift Global Economic Growth

In May, the International Energy Agency (IEA) published their Net Zero by 2050 report, a comprehensive study of how to transition to a net zero energy system by 2050. In the report, the IEA underlines the importance of a massive deployment of all available clean and efficient energy technologies over the next 10 years to meet 2050 targets.

The report dives into an analysis of clean technologies on the market today and how they will impact our emissions reductions through 2030. Importantly in their forecast for 2050, about 40% of emissions reductions are reliant on technologies that have not yet been commercially deployed in mass-market applications. Major innovation efforts need to take place across the spectrum of clean energy tech to reach international climate and sustainability goals.

Priority action: Make the 2020s the decade of massive clean energy expansion

As the world continues to grapple with the impacts of the Covid-19 pandemic, it is essential that the resulting wave of investment and spending to support economic recovery is aligned with the net zero pathway. 

- IEA 2021

With the slowdown of the global economy over the last year, due to Covid-19, Climeon has taken the opportunity to put extra focus into R&D efforts to further develop the efficiency our Heat Power technology. An increase in energy efficiency plays a major role in the IEA’s plan to reach 2050 targets, and we are confident that Heat Power will be an integral part of this development.

total annual energy investment surges to USD 5 trillion by 2030, adding an extra 0.4 percentage point a year to annual global GDP growth… This unparalleled increase – with investment in clean energy and energy infrastructure more than tripling already by 2030 – brings significant economic benefits as the world emerges from the Covid-19 crisis.

- IEA 2021

IEA’s proposed plan would create millions of jobs in the clean energy sector and put us in a strong position to reach international climate targets. We are inspired by the outlook projected by the IEA’s report and hope to see that decision makers around the globe find the same inspiration to put this into action!