International Energy Agency (IEA)
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Climate Change
- Energy Security
- Sustainable Development
Environmental Achievements
- Developed the Global Energy and Climate (GEC) Model, a tool for generating detailed long-term scenarios for energy transitions and climate goals.
- Updated the Net Zero Emissions by 2050 Scenario (NZE Scenario) to reflect changes in energy policies, technologies, markets, and supply chains.
- Improved estimates of methane emissions from fossil fuel supply using satellite data and other sources.
Social Achievements
- Expanded regional coverage of the GEC Model to include more countries.
- Enhanced analysis of behavioral changes featuring in announced climate pledges.
- Improved modelling of energy access, including access to electricity and clean cooking.
Governance Achievements
- Incorporated industry action, including manufacturing capacity for clean energy technologies, into the Stated Policies Scenario (STEPS).
- Enhanced the granularity of government energy spending data.
- Close collaboration with colleagues in the international modelling community.
Climate Goals & Targets
Long-term Goals:
- Achieve net zero CO2 emissions from the energy sector by 2050 (NZE Scenario).
Medium-term Goals:
- Show how close current pledges get the world to limiting global warming to 1.5°C (APS).
Short-term Goals:
- Achieve universal access to modern energy services by 2030 (SDG 7.1).
Environmental Challenges
- Uncertainty in technology breakthroughs.
- Volatility in commodity markets.
- Challenges in achieving global cooperation on climate action.
- Data limitations and exclusions.
Mitigation Strategies
- Use of a hybrid modelling approach combining simulation and optimisation.
- Iterative modelling to balance supply and demand.
- Detailed technology tracking and cost projections.
- Incorporation of policy constraints and market dynamics.
- Collaboration with other institutions and experts.
Supply Chain Management
Responsible Procurement
- Collaboration with suppliers and industry groups
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of clean energy technologies
Reporting Standards
Frameworks Used: null
Certifications: null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 7 (Affordable and clean energy)
- SDG 13 (Climate action)
The GEC Model supports analysis of pathways to achieve these goals.
Sustainable Products & Innovation
- GEC Model
Awards & Recognition
- Not disclosed