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International Energy Agency Publishes ‘World Energy Investment’ report

At a time when the global economy is still coming to terms with the impact caused by the Covid pandemic, the International Energy Agency (IEA) publishes its latest ‘World Energy Investment’ report.

One of the main conclusions is that investments in the sector as a whole are down across the board by about 20%, or around US$ 400 billion year on year. But while these cuts come as a response of the market to lower demand following the global Covid outbreak, the IEA warns about the broader implications this could have on energy security and the transition to clean energy systems.

While emission levels are also down as a result of the decline in global consumption, the IEA reckons that governments should not abandon investment projects in clean energy. Once demand picks up again, such investments will remain crucial towards reaching global emission targets.

Furthermore, the IEA warns that abandoning key investments now could have an impact on energy security when economies recover, and demand increases again.

The full report is available on IEA’s official website through the following link:

 https://www.iea.org/reports/world-energy-investment-2020

The IEA is working on an additional report with recommendations for governments on job creation and relaunching economic activity by promoting energy systems that are both cleaner and more resilient.

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