Unprecedented policy momentum
    • Covid-19 crisis had unprecedented impact 
                 on global energy system
     • Four grounds of optimism towards clean 
         energy transitions, despite all present 
                         difficulties:
        - Net zero pledges by many countries 
          and companies
        - New 2030 emission cut targets by US, 
          EU
        - Largest stimulus packages in 
          economic history
        - Crucial COP26 meeting in Glasgow
    • IEA NZE Roadmap to be published on 
                           18 May
    IEA 2020. All rights reserved. 
                                 Targets alone are not enough
                                  Change in global CO2 emissions by fuel, 1990-2021
                                                                                                                 [Source: IEA GER2021]
         After the largest ever decline due to the Covid-19 crisis, global CO2 emissions are set to 
        increase by nearly 5% in 2021, approaching the 2019 peak, as demand for coal, oil & gas 
                                                rebounds with the economy
    IEA 2020. All rights reserved. 
                   Renewables are set to new records in 2021
                Change of primary energy demand by region and by fuel in 2021 relative to 2019
                                                                                                            [Source: IEA GER2021]
        In contrast to all other fuels, renewable energy use increased 3% in 2020, underpinned by 7% 
          growth in electricity generation. Renewable electricity is set to expand by more than 8% in 
                                                 2021, the fastest since the 70’s
    IEA 2020. All rights reserved. 
                 EU stimulus is a champion of “green” economic recovery
                                 Clean energy spending in economic stimulus packages, governments and EU
                Government stimulus packages*
                   Next Generation EU proposal
                                              0             50             100            150            200            250            300
                                                                                                                                  USD billion
                                             Biofuels   Renewable electricity   Other clean energy   Efficiency   Infrastructure and transport
                                                            Other clean energy: green hydrogen, CCUS, nuclear and battery storage. * Announced by the end of October 2020.
                                                                                                                  [Source: IEA Renewables 2020]
               Infrastructure & transport and energy efficiency take priority in global clean stimulus. The EU has set 
            green recovery at the heart of its USD 840 billion stimulus with 37% planned for climate-related spending. 
     IEA 2020. All rights reserved. 
                      Solar PV is becoming the ‘new king’ of electricity
                                                                                Change in global electricity generation
                          hh88 0 00000
                          WW                                                                                                                                                                        22000000--22001199
                          TT
                            44 0 00000                                                                                                                                                          22001199--22004400
                                                                                                                                                                                                    SSTTEEPPSS
                                                                                                                                                                                                     SSDDSS
                                  00
                                                  Coal                          Gas                      Other low                         Wind                      Solar PV
                                                                                                           carbon
                           --44 0 00000
                           --88 0 00000                                                                                                                                                             [Source: IEA WEO 2020]
                                                  CCooaall                      GGaass                   OOtthheerr l looww                WWiinndd                  SSoollaarr  PPVV
                                                                                                           ccaarrbboonn
          Solar PV is now the cheapest source of electricity in most countries in part due to low cost 
             Solar PV is now the cheapest source of electricity in most countries in part due to low cost 
          financing and is set to triple before 2030 under current and proposed policies, with the 
                            financing and is set to triple before 2030 under current and proposed policies
          potential to grow much faster
       IEA 2020. All rights reserved.