The IEA says the pledges will not be enough to limit global warming to 1.5 degrees Celsius.
A number of new pledges announced at the COP28 climate summit, involving tripling the share of renewable energy before limiting methane emissions, are insufficient.
130 countries agreed to triple the amount of renewable energy and double the rate of energy efficiency improvements, while 50 oil and gas companies agreed to reduce methane emissions and eliminate routine gas flaring by 2030 as part of the Oil and Gas Decarbonisation Charter.
Based on estimates, this will reduce global greenhouse gas emissions from the energy sector by 4 billion metric tonnes of carbon dioxide equivalent in 2030. However, this is still not enough, as it is about a third of the emissions gap that needs to be closed in the next six years to limit warming to 1.5 degrees Celsius.
The IEA also said, in order to prevent temperatures from dropping to 1.5 degrees Celsius, countries at COP28 need to deliver results in five key areas. The world needs to commit to reducing the use of fossil fuels and stop issuing new permits for coal-fired power plants operating without shutdowns, according to the IEA analysis.
