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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.
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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It continued: “This will send a clear signal to industry and unlock larger economies of scale and faster cost reductions, making the transition more affordable for all countries.”
An IEA spokesperson said that the Governments need to decide when the ban on petrol and diesel cars should come into effect themselves.
However, they added that “2035 is a typical date for doing this among scenarios aligned with limiting warming to 1.5 degrees”.
The agency also stressed that Russia’s invasion of Ukraine and the rising living costs must not slow down the transition to sustainability.
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The IEA said: “A massive scaling up of clean energy investment and deployment worldwide is needed to enhance energy security.”
However, the Bank for International Settlements (BIS) disagreed with the agency warning that the increased efforts to solve the energy crisis risked triggering a global food crisis.
BIS added that large economies that plan to end their dependency on Russian oil imports could face increased use of grains in the production of biofuels, which would exacerbate existing food shortages.
The bank said: “Persistently high oil prices may add upward pressure to the price of grains and oilseeds by boosting their use in the production of biofuels, such as ethanol and biodiesel.
“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.
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