World Energy Outlook 2023: Substantial cut likely in India’s CO2 emissions by 2050

Source: The post is based on the article “World Energy Outlook 2023: Substantial cut likely in India’s CO2 emissions by 2050” published in “TOI” on 27th October 2023

Why in the News?

The International Energy Agency(IEA) has released the World Energy Outlook 2023.

What is the World Energy Outlook 2023?

Released by: International Energy Agency(IEA)

Aim: To provide in-depth analysis and strategic insights into every aspect of the global energy system.

Key Highlights from the report:

Globally: 

1.Fossil fuel share in the global energy supply is projected to reduce from around 80% to 73% by 2030. 

2.Investment in clean energy has risen by 40% since 2020.

3.In 2020, one in 25 cars sold was electric.in 2023, this is now one in 5. 

India:

India is expected to have the highest growth in energy demand over the next three decades.

But India’s industrial sector will emit 30% less CO2 by 2030 and passenger cars will emit 25% less CO2 per kilometer driven.

This is due to the government policies in addressing climate commitments through increased efficiency and new technologies.

UPSC Syllabus Topic: Renewable Energy