The world's reliance on fossil fuels is far from over, despite investments in renewables and international deals to fight climate change, the International Energy Agency said Wednesday.
Though international agreements are expected to cut energy-related carbon emissions from an average of 650 million tons per year since 2000 to around 150 million tons per year in 2040, the IEA said that current efforts aren't strong enough.
"While this (reduction) is a significant achievement, it is far from enough to avoid the worst impact of climate change as it would only limit the rise in average global temperatures to 2.7 (degrees Celsius) by 2100," the IEA said in its new world energy report.
The Paris Agreement – the first climate deal supported by China and the U.S. – entered into force last week and aims to limit the increase in global temperatures to below 2 degrees Celsius. The IEA said that the target is "a major step forward" but politicians need to speed up the implementation of low carbon technologies and energy efficiency across all sectors. Ultimately, "government policies will determine where we go from here," Fatih Birol, the IEA's executive director, said in a statement.
There are concerns that President-elect Donald Trump will reverse the commitment of the previous administration to the Paris climate agreement.