IEA calls for $1tn annual investment to aid Covid-19 recovery plan

19 June 2020 (Last Updated June 19th, 2020 12:42)

The International Energy Agency (IEA) has outlined a “sustainable recovery plan” to help the world’s economies recover from the Covid-19 pandemic, and transition to a cleaner energy mix, over the next three years.

The plan, published in its ‘Special Report on Sustainable Recovery’ and co-authored by the International Monetary Fund, makes a number of policy recommendations to national governments on how best to integrate sustainable power into their energy infrastructure, to aid in both economic development and economic protection. According to the IEA, should governments implement its suggestions, global economic growth will increase by 1.1% per year, save or create around nine million jobs per year, and reduce greenhouse gas emissions by 4.5 billion tonnes by the end of 2023.

Read more about the IEA report here.