According to the latest update of the IEA’s Net Zero Emissions by 2050 (NZE) Scenario, further progress is essential to develop and deploy critical technologies. Among these, low-emissions hydrogen, SAF and DACS would need to grow substantially in the coming years, say GenZero and IEA.
High-quality carbon credits can have a role to play in accelerating the transition to clean energy and scaling up solutions like low-emissions hydrogen, sustainable aviation fuel (SAF) and direct air capture and storage (DACS), according to a new joint report by GenZero and the International Energy Agency (IEA).
Titled “The Role of Carbon Credits in Scaling Up Innovative Clean Energy Technologies”, the 71-page report estimates that by the early 2030s, annual investment of US$4.5 trillion will be needed to accelerate deployment across all clean energy technologies and infrastructure, up from US$1.8 trillion in 2023.
Published on April 16, the report’s authors say reaching net-zero emissions targets will require a “rapid transformation” of energy systems. This will include deploying “innovative technologies” that can address the most challenging sectors and tackle residual emissions, they add.
