Get the latest tech news

1 in 5 new car sales globally were EVs in 2023, and that’s curbed oil demand – IEA

Without clean energy and EVs, the global rise in emissions in the last five years would have been three times larger, new IEA analysis shows.

It was a combination of strong renewables deployment, coal-to-gas switching, energy efficiency improvements, and softer industrial production that drove the decline in advanced economies’ emissions, reports the IEA. The new IEA analysis shows that the deployment of clean energy in the past five years has substantially limited increases in demand for fossil fuels, laying the groundwork to accelerate the transition away from them this decade. The growing number of EVs on the roads, accounting for 1 in 5 new car sales globally in 2023, also played a significant role in keeping oil demand (in terms of energy content) from rising above pre-pandemic levels.

Get the Android app