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Electric vehicle (EV) sales will reach an all-time high in 2022, the IEA says

Tesla’s electric car is pictured in Germany on March 21, 2022 According to the International Energy Agency, sales of electric vehicles are set to hit an “all-time high” this year

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Sales of electric vehicles are set to hit an all-time high this year, but more work is needed in other sectors to put the planet on a path to net-zero emissions by 2050, according to the International Energy Agency.

In an announcement accompanying its Tracking Clean Energy Progress Update, the IEA said there were “encouraging signs of progress across several sectors” but warned that “strong efforts” were needed to “keep the world on track to reach net zero emissions”. In the middle of this century.

TCEP, which is published annually, looks at 55 sectors of the energy system. Focusing on 2021, it analyzed progress on these elements while hitting “key medium-term milestones by the end of this decade,” as outlined in the Paris-based organization’s Net-Zero Pathway.

On the EV front, the IEA says global sales will double in 2021 to represent about 9% of the car market. Looking ahead, 2022 was “expected to see an all-time high for electric vehicle sales, rising to 13% of total light duty vehicle sales worldwide.”

The IEA has previously said that electric vehicle sales will reach 6.6 million in 2021 In the first quarter of 2022, EV sales reached 2 million, a 75% increase over the first three months of 2021.

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The IEA said that both EVs and lighting – where more than 50% of the global market now uses LED technology – were “fully on track for their 2030 milestones” of net-zero by 2050.

Despite the outlook for EVs, the IEA separately noted that they are “not yet a global phenomenon. Sales have slowed due to high purchase costs and lack of availability of charging infrastructure in developing and emerging countries.”

Overall, the rest of the film is more challenging. The IEA noted that 23 areas were “not on track” and another 30 were deemed to require further efforts.

“Areas not on track include improving the energy efficiency of building design, clean and efficient district heating, phasing out coal-fired power generation, eliminating methane flaring, transitioning aviation and shipping to cleaner fuels, and cleaning up cement, chemical and steel production. ” said the IEA.

The shadow of the 2015 Paris Agreement looms large over the IEA’s report. Described by the United Nations as a “legally binding international agreement on climate change”, the agreement aims to “limit global warming to below 2, preferably 1.5 degrees Celsius, compared to pre-industrial levels”.

Reducing man-made carbon dioxide emissions to net-zero by 2050 is seen as critical to meeting the 1.5°C target.

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In a statement issued Thursday, the IEA’s executive director, Fateh Birol, sounded cautiously optimistic. “There are more signs than ever that the new global energy economy is firmly on the way,” he said.

“It reaffirms my belief that today’s global energy crisis could be a turning point towards a cleaner, more affordable and more secure energy system,” he added.

“But this new IEA analysis shows the need for greater and sustained efforts across different technologies and sectors to ensure the world can meet its energy and climate goals.”

The IEA’s report comes at a time when debate and discussion about climate targets and the future of energy have become increasingly heated.

This week, the UN secretary-general said developed economies should impose additional taxes on the profits of fossil fuel companies, funding countries affected by climate change and families struggling with the cost-of-living crisis.

In a wide-ranging address to the United Nations General Assembly in New York, Antonio Guterres described the fossil fuel industry as “a feast of hundreds of billions of dollars in subsidies and unfettered profits while household budgets shrink and our planet burns.”

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