Lighting the Path: What IPCC energy pathways tell us about Paris-aligned policies and investments
-
No new oil and gas fields should be developed, and no exploration conducted in order to limit warming to 1.5°C
-
By 2030, wind and solar deployment needs to be double the forecasted estimates under current policies; additional supportive policies are necessary to enable this growth.
-
There is an urgent need to plug the yearly USD 450 billion investment gap for wind and solar.
This report shows that significant structural changes are required in the energy sector to align with pathways limiting warming to 1.5°C. The pathways consistent with the IPCC’s assessment of feasible and sustainable deployment of Carbon Dioxide Removal and Carbon Capture and Storage technologies leave no room for delayed action. The oil and gas phase-out timelines presented in this report constitute the ambition level consistent with the best estimates of the current and future capacity of mitigation technologies. Accordingly, this report presents the key implications for governments and financial institutions aiming to align their policies and investments with feasible 1.5°C pathways. Its recommendations are designed to guide the understanding of the Paris alignment, consistent with the IPCC findings, and should inform plans to strengthen and amplify policy interventions.
Participating experts
You might also be interested in
Paris-aligned or Paris-misaligned? Fossil fuel financing under the European Bank for Reconstruction and Development's Paris alignment methodology
With the European Bank for Reconstruction and Development revising its Energy Sector Strategy this year, the EBRD faces a key opportunity to tighten its restrictions on fossil fuel financing to align with international best practice.
Canada commits to historic investments in clean electricity and fresh water in Budget 2023
The International Institute for Sustainable Development congratulates the Canadian federal government on the release of the 2023 federal budget.
Canada is sitting on 12 'carbon bombs.' Here's where they are
Just under the surface of B.C. and Alberta, in a rock formation known as the Montney Play, lies enough potential greenhouse gases to blow past Canada's 2030 emissions targets 30 times over. It's one of 12 fossil fuel reserves researchers in the journal Energy Policy have identified in Canada — called "carbon bombs" — that would each release a billion tonnes or more of carbon into the atmosphere if their resources were extracted and burned. This would be catastrophic for the world's efforts to slow rising global temperatures, the authors argue.
Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement
This report assesses global progress made on aligning public financial flows —such as subsidies and other forms of government support —with the need to reduce emissions within a pathway for a safe climate.