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IEA: World Energy Outlook 2023

Facts for Prelims (FFP)  

 

Source: TOI, IEA

Context: According to the International Energy Agency, India is expected to have the highest growth in energy demand over the next three decades, however, India’s industrial sector will emit 30% less CO2 by 2030, and passenger cars will emit 25% less CO2 per kilometre driven.

 

Reasons for such assessment:

These changes are attributed to government policies that have lifted people out of poverty and improved their quality of life while addressing climate commitments through increased efficiency and new technologies.

Other assessments about India: Over the past five years in India, solar PV has accounted for nearly 60% of new generation capacity.

 Other assessments about the World: Fossil fuel share in the global energy supply is projected to reduce from around 80% to 73% by 2030. Global energy-related carbon dioxide (CO2) emissions will peak by 2025.

About IEA

IEA (HQ: Paris; Founded in 1974)  is an autonomous intergovernmental organisation to ensure the security of oil supplies. Membership: 31 countries (India is not a member). India is part of the ‘association countries’ of IEA. World Energy Outlook is Published every year and provides critical analysis and insights on trends in energy demand and supply.

Other Reports:

World Energy Investment Report 2023