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Power sector transformation will get world one third of way to net zero - IEA

(Reuters, 10 Sep 2020) With energy demand set to steadily rise, innovations in the power sector are needed to slash emissions, said analysts.

The transformation of the power sector will only get the world one third of the way to a goal of achieving net zero emissions by mid-century, a report by the International Energy Agency (IEA) said on Thursday.

Global carbon dioxide (CO2) emissions are expected to fall this year by 8% from 2019 - their lowest level since 2010 - as slower economic growth due to the COVID-19 pandemic slashed energy demand.

However, the trend is not forecast to continue.

The transport, industry and building sectors currently account for more than 55% of CO2 emissions from the energy system and that is expected to grow due to more vehicles being electrified, metals recycling and heat production for industry and homes, the IEA said.

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Reuters, 10 Sep 2020: Power sector transformation will get world one third of way to net zero - IEA