The International Renewable Energy Agency (IRENA) thinks all energy-related carbon dioxide emissions could be halted by 2060.
In a new report, the agency said 70% of emissions could be eliminated by 2050.

IRENA thinks that increased deployment of renewable energy and energy efficiency in G20 countries and globally can achieve the emission reductions needed to keep global temperature rise to no more than 2C.

It calculated that its plans would cost $29 trillion until 2050 – or 0.4% of global gross domestic product (GDP) – but that the investment would also boost global GDP by 0.8% in 2050.

Economic case

Adnan Amin, IRENA’s Director-General, said: “Critically, the economic case for the energy transition has never been stronger.

“Today around the world, new renewable power plants are being built that will generate electricity for less cost than fossil-fuel power plants.
“And through 2050, the decarbonisation can fuel sustainable economic growth and create more new jobs in renewables.

“We are in a good position to transform the global energy system but success will depend on urgent action, as delays will raise the costs of decarbonisation.”

> Download the report