The IEA has urged governments to end the sales of new diesel and petrol cars in a new report published on Tuesday. The IEA is an intergovernmental group consisting of mostly wealthy Western countries, including the United Kingdom and the United States.
The IEA stressed that a “massive scaling up” of investment in clean energy is vital to ensure energy security.
This is because, as it stands, the progress on cutting emissions from vehicles is falling short of what is required to end climate change.
The agency added that the number of EVs needs to rise by over 20 percent by 2030 in order for the world to reach its climate targets.
The findings were published in a major joint report by the IEA and the United Nations Climate Change High Level Champions.
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Overall, the report called to intensify the international collaboration on climate change.
The report read: “Governments should agree on a timeline by which all new road vehicle sales should be zero emission, with interim targets for countries taking into account their level of economic development […] and should align policies with this target.
Pathways compatible with 1.5 degrees [the international goal of limiting global warming to 1.5 degrees above pre-industrial levels] indicate that this target date should be around 2035 for cars, for example.”
The report added that the same timelines should apply to vehicle-makers and their production.
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“Shifts in the price of these crops, which are key livestock feedstuffs, could quickly propagate into other food prices.”
In its quarterly report, BIS urged that phasing out all Russian oil would be a “major negative shock” to the global economy, which was likely to trigger unintended “spillovers”.
Fatih Birol, the IEA’s executive director, said: “We are in the midst of the first truly global energy crisis, with devastating knock-on consequences across the world economy, especially in developing countries.
“Only by speeding up the transition to clean sustainable energy can we achieve lasting energy security.
“Through international collaboration, we can make the transition quicker, cheaper and easier for everyone.”
The UK plans to ban the sale of new petrol and diesel cars by 2030, with some hybrids allowed beyond that. The EU plans to do so by 2035.