International Energy Agency

The world is at the "dawn of a new industrial age" of clean energy technology manufacturing that will triple in value by 2030 and create millions of jobs, the International Energy Agency (IEA) has said.

Clean energy now provides more employment than the fossil fuel industry, reflecting the shift that efforts to tackle climate change are having on the global jobs market, according to a report yesterday.

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency has said.    

Climate-changing CO2 emissions are set to surge by the second-biggest amount in history this year as the global economy recovers from the Covid-19 pandemic, the IEA warned on April 20, days before a major climate summit.

Global and regional business and policy leaders will come together at the eighth annual Atlantic Council Istanbul Summit on April 27-28 with the aim of developing ideas and action on the issues of energy, the economy and security.

OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said on Feb. 10, as it predicted that oil demand was likely to be more vigorous than anticipated this year.     

In its latest monthly report, the International Energy Agency estimated "a record initial compliance rate of 90 percent" to the landmark deal that came into effect in January.

The oil market surplus may run into a third year in 2017 without an output cut from OPEC, while escalating production from exporters around the globe could lead to relentless supply growth, the International Energy Agency said on Nov. 10.

Global economic growth did not translate into more harmful greenhouse gas emissions from the energy sector last year, the IEA said on March 16, a strong indication that growth and increased pollution no longer go hand in hand.

A lightning advance by jihadists across northern Iraq has rekindled concern on oil markets, but the IEA cautioned June 13 that supplies from leading exporter Iraq may not be at immediate risk.