IEA report says Target to halve global fuel consumption by 2030 is stalling

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IEA report says Target to halve global fuel consumption by 2030 is stalling

According to a report by the International Energy Agency (IEA), the goal of halving global fuel consumption by 2030 has been hit.

According to an update from the International Energy Agency’s (IEA) Global Fuel Economy Initiative (GFEI):

  • Progress has been slow towards achieving the global target of half the fuel consumption of new light-duty vehicles by 2030 from 2005 levels. This slow progress underscores the urgent need for policy action.
  • It calls for strong policies to promote the market share of efficient electric cars and the adoption of efficiency technologies in internal combustion engines globally.
  • To meet the GFEI’s 2030 target, countries need to align laws on fuel economy with their climate commitments.

Global Fuel Economy Initiative (GFEI)

  • GFEI was established in the year 2009. Its purpose is to promote and support government action to improve the energy efficiency of global light-duty vehicles.
  • GFEI is a partnership between the International Energy Agency, the United Nations Environment Program (UNEP), the International Transportation Forum (ITF) of the Organization for Economic Co-operation and Development (OECD), the International Council on Clean Transportation (ICCI), the University of California-Davis and the FIA ​​
  • Its goal is for new light duty vehicles to improve their average fuel economy by 2030 (compared to a 2005 baseline). Also, it is to include electric and hybrid technology.

IEA (International Energy Agency)

  • The IEA is an autonomous intergovernmental organization. It was established in 1974 under the framework of the OECD, to help countries collectively deal with oil supply disruptions.
  • It advises its member countries on issues related to energy security and economic development.
  • In the year 2017, India joined the grouping as an associate member.
  • IEA publishes World Energy Outlook, Oil Market Report etc.

Source- The Hindu

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