IEA suggests 25 collaborative actions for meeting climate commitments

International standards for monitoring and reporting on the state of natural resources on which agriculture depends, covering soil health, soil carbon content, and pollinator health, need to be developed, it suggests.

The report recommends nations to demonstrate and test flexible low-carbon power systems to expand the range of solutions and increase the share of variable renewables, and create new cross-border super-grids in this decade to raise trade in low-carbon power, reduce emissions, improve energy security and enhance system flexibility.

Its recommendations include setting up new international centres of expertise to channel finance and technical assistance to help coal-producing countries’ transition and agreeing on a common definition and target dates by which all new road vehicles will be net zero, targeting 2035 for cars and vans and the 2040s for heavy-duty vehicles.

It also suggests setting up standards to boost the recyclability of batteries and supercharging research into alternative chemistries for batteries to reduce reliance on precious metals and formulating government policies and private-sector purchase commitments to drive demand and deployment of low-carbon and renewable hydrogen alongside standards to enable global trade, a press release from IEA said.

Against the backdrop of the energy crisis and the threat of a global food crisis, the report urges leaders at COP27 to follow through on actions that would accelerate progress towards net zero emissions by decades, cut energy costs and boost food security for billions of people worldwide.

The report highlights growing momentum across key sectors, including a doubling of electric vehicles (EVs) sales in 2021 and a forecast 8 per cent increase in global renewable capacity in 2022.

It notes the forecast global electricity generation cost reduction of at least $55 billion in 2022, based on new renewable capacity added in 2021.

It also warns that far greater international cooperation is needed to get the world on track to meet its climate commitments.

At COP26, 45 countries committed to make clean technologies the most affordable, accessible and attractive option in each major greenhouse gas emitting sector by 2030 under the ‘Breakthrough Agenda’.

ALCHEMPro News Desk (DS)