According to the Institution of Engineering and Technology in their website that emerged yesterday from Jack Loughran with the headline 1.5°C global warming limit still possible due to renewables growth, according to study that the International Energy Agency has stated a significant aspect. The article can be obtained from here. The IET began with the comment

“Global warming could still be kept under 1.5°C due to rapid growth in clean energy technologies over the last decade, but the path is narrowing and stronger action needs to be taken swiftly, the International Energy Agency (IEA) has said.”

and at the bottom of the document they submitted the comment from IEA

“By 2050, fossil fuel demand needs to fall by 80 per cent. As a result, no new long-lead-time upstream oil and gas projects are needed. Neither are new coal mines, mine extensions or unabated coal plants,” the IEA said.

However, the body admitted that continued investment is still required in some existing oil and gas assets, and has already approved projects to meet the ongoing demand.

“Removing carbon from the atmosphere is very costly. We must do everything possible to stop putting it there in the first place,” Birol added. “The pathway to 1.5°C has narrowed in the past two years, but clean energy technologies are keeping it open.

“With international momentum building behind key global targets – such as tripling renewable capacity and doubling energy efficiency by 2030, which would together lead to a stronger decline in fossil fuel demand this decade – the COP28 climate summit in Dubai is a vital opportunity to commit to stronger ambition and implementation in the remaining years of this critical decade.”