In order to reach net zero carbon emissions by 2050, the influential group said in a report Tuesday that investment in new fossil fuel supply projects must stop immediately, and no new coal-fired plants should be approved.
Dave Jones, global program lead at climate group Ember, said it marks a"major shift" for the IEA to"fully embrace the challenge of 1.5 degrees." Jones said the IEA report signals"the start of the end" for the oil and gas industry."It shows that any new fossil investment is made knowing it is inconsistent with a 1.5 degree world," he added.
Right on cue: Amazon is reportedly in talks to buy MGM, the vaunted film studio that was a staple of Hollywood's Golden Age.
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