Global Energy Transitions Stocktake Cover Image A Field Of Wind Turbines

Global Energy Transitions Stocktake

Tracking progress toward the Paris Agreement

The latest IEA analysis tracking the global energy transition, covering technology, investment and people-centred progress toward the Paris Agreement

This year marks the finalisation of the first global stocktake of the Paris Agreement, which assesses the world’s collective progress against its climate goals. In support of that important effort, the IEA is bringing together all of its latest data and analysis on clean energy transitions in one place, making it freely accessible to citizens, governments, and industry.

Reaching net zero emissions requires a complete transformation of how we power our daily lives and the global economy. The IEA's Net Zero by 2050 Scenario lays out a narrow but achievable pathway to net zero emissions in the energy sector by mid-century – a trajectory consistent with limiting global temperature rise to 1.5oC. Following this pathway represents the world’s best chance of avoiding the worst effects of climate change, and requires accelerating the shift to non-emitting sources of energy, such as wind and solar; increasing energy efficiency; electrifying transport, industry and buildings; expanding the use of clean hydrogen and other low-emission fuels; and investing in emissions abating technologies, including negative emission technologies.

The IEA’s Global Energy Transitions Stocktake pulls together the latest data and analysis on the global clean energy transition, including energy sector greenhouse gas emissions, technology developments, energy sector financing, energy access and energy employment. Taken together, these indicators allow us to track global progress of the energy transition and provide an accurate and objective picture of where we are now, and the trajectories we are on.

This page, which will be regularly updated in the lead up to the UN's COP28 climate change conference, includes a calendar of all major report launches throughout the year, making it easy to follow the latest updates and find links to IEA’s publications and in-depth analysis. This series culminates in the release of a new Special Report on Climate which will explore viable pathways in the energy sector to 1.5oC.

Global tracking indicators

Clean energy sectors continues to fuel energy-related job growth worldwide

Energy employment reached nearly 67 million in 2022, with more than half employed in clean energy. Clean energy sectors have added nearly 5 million jobs across every region of the world, since 2019, thanks to strong investment and policy support. On the other hand, fossil fuel employment has yet to fully recover from pandemic-era layoffs. As a result, the clean energy workforce surpassed that of fossil fuels around 2021 to employ over 50% of total energy workers worldwide, a trend that remains true in most regions.

Total employment by sector, 2019-2023


In a complex global energy market the emergence of a new clean energy economy provides hope for the way forward

Today, the global average surface temperature is already around 1.2 °C above pre‑industrial levels, prompting heatwaves and other extreme weather events, and greenhouse gas emissions have not yet peaked. The energy sector is also the primary cause of the polluted air that more than 90% of the world’s population is forced to breathe, linked to more than 6 million premature deaths a year. Positive trends on improving access to electricity and clean cooking have slowed or even reversed in some countries.

Much additional progress is still required to meet the objectives of the Net Zero Emissions by 2050 (NZE) Scenario which limits global warming to 1.5 °C. Alongside our main scenarios, we explore some key uncertainties that could affect future trends, including structural changes in China’s economy and the pace of global deployment of solar PV.

Annual investment in fossil fuels and clean energy, 2015-2023


Current NDCs commit to an 8% decline in CO2 emissions by 2030 in the energy sector

Current Nationally Determined Contributions (NDCs) imply that energy sector CO2 emissions will peak this decade and fall to 30 Gt CO2 in 2030, 5 Gt less than in the first round of NDCs pledged in 2015. Although recent growth in clean energy is set to approach the levels in existing NDCs at the global level, most NDCs still are not aligned with countries' long-term net zero targets.

The IEA Climate Pledges Explorer analyses NDCs from more than 190 countries to estimate energy sector CO2 emissions implied by their targets. The database also provides a complete repository of governments’ net zero pledges, including their legal status and target year.

Global CO2 emissions from fuel combustion implied by Nationally Determined Contributions and the Stated Policies Scenario, by 2030


The path to 1.5 ̊ C has narrowed, but clean energy growth is keeping it open

The case for transforming the global energy system in line with the 1.5 ̊C goal has never been stronger, with global CO2 emissions reaching a record 37 Gt in 2022. Already, solar PV installations and electric car sales are growing fast enough to meet the milestones from our 2021 Net Zero by 2050 report. Plus, innovation is providing new tools and lowering their cost. 

But delivering net zero emissions will require larger, smarter and repurposed electricity networks; large quantities of low-emissions fuels; more nuclear power; and scaling up near zero emissions materials production. And, as part of an equitable pathway, almost all countries need to bring forward their targeted net zero dates. 

By 2035, emissions need to decline by 80% in advanced economies and 60% in emerging market and developing economies compared with 2022 levels.

A Roadmap To Net Zero By 2050

Momentum around low-emission hydrogen keeps growing, but progress is still hampered by cost challenges and uncertainty around demand

The number of announced projects for low-emission hydrogen production has grown rapidly in the past year, and could push annual production to 38 Mt in 2030 (from less than 1Mt in 2022). More than 40 countries have now enacted hydrogen strategies, further raising ambitions.  But scaling up production is now facing headwinds due to cost inflation and delays in the implementation of supporting policies.

Greater efforts are particularly needed to stimulate demand for low-emission hydrogen, which still accounts for less than 1% of global hydrogen production and use, and will need to grow more than 100-fold by 2030 to meet the IEA’s Net Zero Emissions by 2050 Scenario.  

Low emission hydrogen production by technology route and maturity based on announced projects and in the Net Zero Scenario, 2030


Progress on electricity access has remained slow in 2023, hobbled by financial strains

The latest electricity access data confirms that for the first time in decades, the number of people without access to electricity in the world increased in 2022, rising to 760 million people. This setback was largely due to the combined impacts of the energy crisis and Covid-19 pandemic, and was concentrated in sub-Saharan Africa, home to 80% of those without access to electricity today.

Recent IEA data and analysis suggest that in 2023 progress on expanding has access has resumed but is still below pre-pandemic levels, with solar home systems playing a major role. This update comes in parallel with an update to all of IEA's latest data on Sustainable Development Goal 7: ensuring affordable, reliable, sustainable and modern energy to all.

Number of people without access to electricity by region, 2010-2023


Stronger international cooperation in high emissions sectors crucial to get on track for 1.5C climate goal

In the past year, only modest progress has been made in strengthening international collaboration in the areas where it is most needed. Progress has been made in expanding financial assistance to developing countries in some sectors, and in joint research and development initiatives. But much more progress is needed in aligning policies to create demand for clean technologies, and in establishing dialogue on trade in sectors where this is likely to be critical to the transition. In most sectors, participation in the leading initiatives for practical cooperation still falls short of a majority of the global market. The report argues that greater political commitment is needed to progress from softer forms of collaboration, such as sharing best practice, to harder forms such as alignment of standards and policies, which are more difficult but can yield greater gains in mobilising investment and accelerating deployment.

The clean energy economy is gaining ground, but greater efforts are needed

Rapid progress of key clean energy technologies shows the new energy economy is emerging faster than many think. The IEA’s Tracking Clean Energy Progress finds that solar PV, electric vehicles and lightning are fully on track in 2022 for their 2030 milestones laid out in the IEA’s Net Zero by 2050 Scenario. Progress can be observed across all of the 50-plus clean energy sectors and technologies evaluated, but accelerated policy support and investment are needed to quickly expand momentum across more countries and to all parts of the energy system to move the world closer to net zero emissions by 2050.

Clean energy investment in emerging markets and developing countries needs to grow steeply to reach SDGs and climate goals

Spending on clean energy in emerging market and developing economies outside of China has stagnated in recent years at around USD 250 billion per year. A seven-fold surge in clean energy investment is needed in these countries by 2035 to align with the Paris Agreement and sustainable development goals: less than 2% of the total would be enough to secure universal access to electricity & clean cooking fuels.

Clean energy investment in emerging and developing countries (excluding China) in the Net Zero Scenario, 2019-2035


Governments have allocated USD 1.34 trillion to clean energy since the pandemic

Since the start of the Covid-19 crisis, governments have enacted USD 1 343 billion in clean energy investment support. This amount is unprecedented, but also heavily imbalanced as advanced economies account for nearly 95% of it.

In addition, policymakers have spent a further USD 900 billion in efforts to protect households and businesses from rising energy bills since autumn 2021. Only about 25% of these short-term affordability measures were targeted toward households most in need of support or businesses most exposed to the effects of high energy prices. Without better targeting, new affordability measures will further contribute to rising levels of government debt.

Government spending for clean energy investment support and crisis-related short-term consumer energy affordability measures, Q2 2023


Clean energy investment reaches record high in 2022

The recovery from the Covid-19 pandemic and the response to the global energy crisis have provided a major boost to global clean energy investment, which rose to more than USD 1.7 trillion in 2022. For every USD 1 spent on fossil fuels, USD 1.7 is now spent on clean energy. Five years ago this ratio was 1:1. Clean energy investment is set to grow further in 2023, with growth driven largely by solar PV and EVs.

Global energy investment in clean energy and in fossil fuels, 2015-2023


Renewable capacity additions grew by 13% in 2022

Renewable energy capacity additions rose by almost 13% to nearly 340 GW in 2022. However, solar PV was the only technology that broke a deployment record last year, with net additions of nearly 220 GW – a 35% increase from 2021. Annual wind capacity additions fell 21% from 2021 to 2022, declining for the second year in a row.

Global additions of hydropower grew, owing to several large projects in Asia, while bioenergy production for power generation also declined due to the phaseout of subsidies in China, the world’s largest market. For geothermal and CSP technologies, global annual market growth remained small but stable.

Renewable electricity net annual capacity additions, 2017-2022


Public investment in energy-based research and development grew in 2022

Public RD&D spending reaches new high in 2022, led by China. Public RD&D expenditures play a significant role in fostering new clean energy technologies and bringing them to market. Globally, public spending on energy R&D rose by 10% in in 2022, to nearly USD 44 billion, with 80% devoted to clean energy topics. However, estimated growth in China masks sluggishness elsewhere, maintaining China’s status as the largest public spender on energy R&D. While OECD countries saw their total government spending on energy RD&D stagnate in 2022, new policies, notably the United States Inflation Reduction Act, promise increases in the coming years.

Global public energy RD&D budget, 2015-2022


Clean energy supply chains expand substantially in 2022

Clean energy technology manufacturing is expanding rapidly, with new capacity additions posting strong year-on-year growth in 2022 for batteries (72%), solar PV (39%), electrolysers (26%) and heat pumps (13%). Wind manufacturing capacity grew much more modestly at around 2%. The announced pipeline of new manufacturing facilities is also growing. If all were to come to fruition, solar PV and battery manufacturing capacity could meet deployment levels needed in 2030 to meet the IEA’s Net Zero Emissions by 2050 scenario. Conversely, existing capacity plus announced projects for wind, electrolysers, and heat pumps remain insufficient. However, all clean energy supply chains remain highly geographically concentrated: with China alone accounting for 40-80% market share across these 5 technologies.

Announced project throughput and deployment for key clean energy technologies in the Net Zero Scenario, 2030


EVs now close to 15% of global car market

Electric car sales exceeded 10 million in 2022, and accounted for close to 15% of the global car market, up from less than 5% just two years earlier. China continues to dominate the market, representing around 60% of all electric cars sold globally, followed by Europe then the United States.

A growing number of EV policies, such as the Inflation Reduction Act and new EU CO2 standards for cars and vans are driving the outlook for EV sales up, EV costs down, and and are leading to substantially less oil demand by the end of this decade. Around 500 models of electric cars were available to consumers in 2022, and supply chains continue to grow, especially for EV battery production, which is now responsible for 60% of global lithium demand, 30% of cobalt and 10% of nickel.

Global electric car stock, 2010-2022


Global heat pump sales continue double-digit growth

Global sales of heat pumps grew by 11% in 2022, according to the latest IEA analysis, marking a second year of double-digit growth for the central technology in the world’s transition to secure and sustainable heating. Increased policy support and incentives for heat pumps in light of high natural gas prices and efforts to reduce greenhouse gas emissions were key drivers behind the strong uptake. In Europe, heat pumps enjoyed a record year, with sales growing by nearly 40%. In particular, sales of air-to-water models, which are compatible with typical radiators and underfloor heating systems, jumped by almost 50% in Europe. In the United States, heat pump purchases exceeded those of gas furnaces, while in China, the world’s largest heat pump market, sales remained stable.

Annual growth in sales of heat pumps in buildings worldwide and in selected markets, 2021 and 2022


CO2 Emissions in 2022: Growth in emissions lower than feared

Global energy-related CO2 emissions grew by 0.9% or 321 Mt in 2022, reaching a new high of over 36.8 Gt. Following two years of exceptional oscillations in energy use and emissions, caused in part by the Covid-19 pandemic, last year’s growth was much slower than 2021’s rebound of more than 6%. Emissions from energy combustion increased by 423 Mt, while emissions from industrial processes decreased by 102 Mt.

In a year marked by energy price shocks, rising inflation, and disruptions to traditional fuel trade flows, global growth in emissions was lower than feared, despite gas-to-coal switching in many countries. Increased deployment of clean energy technologies such as renewables, electric vehicles, and heat pumps helped prevent an additional 550 Mt in CO2 emissions.

Global CO2 emissions from energy combustion and industrial processes, 1900-2022


Methane emissions remained stubbornly high in 2022

Methane is responsible for around 30% of the rise in global temperatures since the Industrial Revolution. Cutting methane emissions is one of the most effective near-term ways to limit global warming and improve air quality. Today, the energy sector accounts for around 40% of total methane emissions attributable to human activity, second only to agriculture. In 2022, the global energy industry released nearly 135 million tonnes of methane into the atmosphere, only slightly below the record highs seen in 2019. However, emissions from very large leaks detected by satellite fell by almost 10% in 2022 from what was detected in 2021, and preliminary estimates indicate that there was also a reduction in natural gas flaring.

Global methane emissions from the energy sector, 2000-2022


CCUS set to expand rapidly if all planned projects come online

The IEA's Carbon Capture, Utilisation and Storage (CCUS) database tracks all CO2 capture, transport, storage, and utilisation projects that have been commissioned since the 1970s and includes projects under construction and planned. If all projects in the pipeline come to fruition, global CO2 capture capacity would reach over 300 million tonnes per year by 2030.

Operational and planned carbon capture capacity by status, 2022-2030


Half the emission reductions needed to reach net zero come from technologies not yet on the market

The IEA Clean Energy Technology Guide tracks progress on more than 500 individual technologies needed to achieve net-zero emissions in the energy sector. For each of these technologies, the Guide assesses their level of maturity, compiles a global list of development and deployment plans, and provides cost and performance indicators, including targets for future objectives. The Guide also features the Clean Energy Demonstrations Technology Database, which tracks and provides more information on large-scale demonstrators.

Global CO2 emissions changes by technology maturity category in the Net Zero Scenario, 2050 compared to 2030

Country-level tracking indicators