Japan and Australia have disputed the findings of the International Energy Agency’s report on reaching net zero emissions by 2050, indicating they will continue fossil fuel investment despite the watchdog’s advice.
The push back from member countries — traditionally big fossil fuel consumers — and global energy producers, highlights the controversy surrounding the IEA’s recommendations which include halting fossil fuel exploration and spending on new projects.
While the IEA has said there is a need to continue investing in already discovered deposits and existing projects, critics say the body does not adequately acknowledge the risks to future energy security, and fails to provide a backstop should the world not manage to create adequate low-carbon alternatives to replace fossil fuels.