Malcolm Noonan (Carlow-Kilkenny, Green Party) | Oireachtas source

Again, I thank Deputy Farrell. The net zero by 2050 roadmap, produced by the IEA envisions that by 2050, global energy demand will be 8% smaller than it is today but will service an economy twice as big and a population with 2 billion more people, and that almost 90% of electricity generation will come from renewable sources.

Energy security will evolve on the path to net zero. Electricity system flexibility, cybersecurity and reliable supplies of critical minerals will all become more important. Most of the world's reductions in CO₂emissions between now and 2030 in our net zero pathway come from technologies already on the market today. In 2050, however, almost of half the reductions will come from technologies that are currently only at demonstration or prototype phase, which I believe was referenced by Deputy Farrell.

This calls for major innovation progress in this decade. Total annual energy investment is expected to surge to $5 trillion by 2030 in an EIA pathway, creating millions of clean energy jobs and putting global GDP 4% higher in 2030 than it would reach based on current trends.

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