World Energy Outlook 2023

World Energy Outlook 2023

News: The International Energy Agency(IEA) has released the World Energy Outlook 2023.

Key Findings (Global perspective)
• Fossil fuel share in the global energy supply is projected to reduce from around 80% to 73% by 2030.
• Investment in clean energy has risen by 40% since 2020.
• In 2020, one in 25 cars sold was electric. In 2023, One in five cars sold is electric.

Key Findings (Indian perspective)
• India is expected to have the highest growth in energy demand over the next three decades. But India’s industrial sector will emit 30% less CO2 by 2030 and passenger cars will emit 25% less CO2 per kilometer driven.
• It is due to the government policies in addressing climate commitments through increased efficiency and new technologies.