World Energy Transitions Outlook 2022: 1.5°C Pathway.

International Renewable Energy Agency (IRENA) (2022): World Energy Transitions Outlook 2022: 1.5°C Pathway. IRENA, Abu Dhabi.

Abstract

In 2022, the need fot the energy transition has become even more urgent.

Compounding crises underscore the pressing need to accelerate the global energy transition. Events of recent years have accentuated the cost to the global economy of a centralised energy system highly dependent on fossil fuels. Oil and gas prices are soaring to new highs, with the crisis in Ukraine bringing new levels of concern and uncertainty. The COVID-19 pandemic continues to hamper recovery efforts, while citizens worldwide worry about the affordability of their energy bills. At the same time, the impacts of humancaused climate change are increasingly evident around the globe. The Intergovernmental Panel on Climate Change (IPCC) warns that between 3.3 and 3.6 billion people already live in settings highly vulnerable to climate change.

Short-term interventions to ameliorate immediate challenges must be accompanied by a steadfast focus on a successful energy transition in the medium and long term. Governments today shoulder the challenging task of tackling seemingly opposing agendas of energy security, resilience, and affordable energy for all. In the face of uncertainty, policy makers must be guided by the overarching goals of arresting climate change and ensuring sustainable development. Any other approach, notably investing in new fossil fuel infrastructure, will only perpetuate the existing risks and raise the long-established threats of climate change. [...]