The International Energy Agency (IEA) has stated that the world is at the “beginning of the end” of the fossil fuel era. The IEA forecasts that demand for oil, natural gas, and coal will all peak before 2030 due to the rapid growth of renewable energy and the increase in electric vehicles. The decline in consumption of these fossil fuels is seen as a result of climate policies and increased investments in renewables by governments worldwide. The IEA’s projections will be published next month in its World Energy Outlook report. However, the IEA’s head, Fatih Birol, has called on policymakers to do more to speed up the energy transition and reduce emissions.
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