World at risk of becoming 'hostage to CO2 capture', according to IEA's latest report
The world needs to speed up the energy transition and not slow down the process, according to the latest report by the International Energy Agency.
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00:00 The world needs to speed up the energy transition and not slow down the process, at the risk
00:04 of the planet failing to meet the objectives of the Paris Agreement and being held hostage
00:08 to CO2 capture, a technology that is still expensive and not fully proven.
00:15 This is the main warning from the International Energy Agency in its update to the 2021 roadmap
00:20 for the energy sector.
00:22 Two years ago, the agency warned of the need to put the brakes on new projects based on
00:26 oil and gas.
00:28 Now it's going even further and against recent proposals from the United Kingdom and even
00:32 the European Union.
00:37 Vichy Sunak has announced a delay on the ban of the sale of new petrol and diesel cars,
00:41 while the EU Council agreed to a watered-down version of the bloc's next car emission standards.
00:48 In order to achieve the objectives, it will be necessary to bring forward the deadlines
00:52 for carbon neutrality by around five years, which means speed up cutting CO2 emissions.
00:59 On the optimistic side, the agency believes that the energy sector is evolving rapidly.
01:05 The growth in solar energy and electric vehicles over the last two years makes it still possible
01:10 for the planet to achieve the Paris Agreement's 2050 targets of global warming, limited to
01:15 1.5 degrees compared to pre-industrial times.
01:20 In a negative trend for the planet, new data from the US National Snow and Ice Data Center
01:25 shows that the Antarctic sea ice has likely broken a new record for the lowest annual
01:30 maximum amount in September.
01:34 Time is rapidly running out.
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