The International Energy Agency (IEA) issues the Seven key principles to implement net zero so that there is speedy progress towards green growth. The document is published on the basis of the IEA-COP26 Net Zero Summit yesterday.
Faith Birol (IEA Executive Director) said in a release post the summit, “As part of the summit, we at the International Energy Agency developed seven key principles that provide a framework for countries to work together and translate their ambitious targets into real emission reductions by putting credible energy policies. These Seven Key Principles have been supported by governments around the world and I expect more to come.”
The fundamentals cover the need for sustainable recoveries from the pandemic with the development of stronger mechanisms which are vital for international coordination. This in turn will lead to progression with invention and to deploy each major emitting sector.
Issues below are also addressed:
- Technology collaborations
- To share best-practices
- To track investments
- To ensure people-centred transitions
- To integrate energy security
- Affordability into net-zero plans
7 key principles for net zero are as follows:
- Sustainable recoveries help in to provide one-time lumpsum down payment to net zero
- Roadmap blueprints for 2030 which are clear, ambitious, and implementable
- With the help of shared learnings, transitions are faster
- Innovative ideas are essential to achieve the net zero target
- To compile, analyse and benchmark public and private investment which can help to achieve net zero
- Transitions which are people friendly are vital from a moral view and also are a necessity politically.
- Net zero energy systems need to be sustainable, secure, affordable, and resilient for maximum efficiency.
A roadmap of the net zero plan till 2050 is scheduled to release on 18th May 2021 which will support stronger government initiatives. The said roadmap is requested by COP26 Presidency so that a pathway is laid down for governments, companies, investors and the general public.