IEA Says No New Major Fossil Fuel Projects Needed In Net Zero Scenario

The world would not need any new long lead-time conventional oil and gas projects or coal mines approved after 2023 as the surge in clean energy deployment could lead to peak fossil fuel demand this decade, the International Energy Agency (IEA) said in its updated Net Zero Roadmap on Tuesday. The new report, an update on the first such publication from 2021, takes into account the developments in the energy sector in the past two years, including the energy crisis, the Russian invasion of Ukraine, the drive for energy security, and the surge in…