Clean energy needs a boost to reverse Covid-19 economic damage: IEA

The Covid-19 pandemic has dealt a massive blow to countries around the world and brought up “worrying implications” for clean energy transitions, the International Energy Agency (IEA) said in a new report.

The crisis is chocking economies and significantly impacting the energy sector, the Paris-based agency said. Unprecedented action and leadership from governments, companies, and other decision-makers will be required to put the world on a sustainable long-term pathway, Kallanish Energy reports.

That’s because despite some key clean energy technologies having been “encouragingly resilient” to the effects of the crisis, “there is little to suggest that the dramatic structural progress needed to achieve long-term climate and energy goals will happen in the current turmoil,” the IEA warned.

The IEA will publish on Thursday a major report in partnership with the International Monetary Fund. The Sustainable Recovery Plan will provide recommendations on how to boost economic growth while building a more resilient and cleaner energy sector.

“The energy sector must achieve dramatic, sustained emissions reductions through policy, investment and innovation measures across all energy sectors and technologies,” the agency said, noting the sector will be key to a recovery post-pandemic.

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