New IEA analysis, requested by Türkiye and Australia to inform COP31 discussions, finds cost-effective technologies can bring proposed 35% electrification target within ‘striking distance’
Electricity is taking on an increasingly central role in economies around the world, opening up new opportunities for countries to strengthen energy security, boost competitiveness and reduce emissions through faster electrification of their economies, according to a new IEA special report.
The report – prepared at the request of Türkiye, the COP31 President, and Australia, the COP31 President of Negotiations – examines the potential to accelerate electrification globally and the extent to which progress could be sped up by sector and region. It assesses the implications of faster electrification for energy security and climate goals, as well as the broader benefits and trade-offs.
The report will serve as the basis for discussions at the latest IEA‑COP31 High-Level Energy Transition Dialogue taking place today in New York in the context of the United Nations General Assembly, as countries consider the adoption of a global electrification target of 35%. (....)