Fatih Birol, the executive director of the International Energy Agency, announced at COP31 that the world has transitioned from reliance on fossil fuels to a new era dominated by electricity. He projected that electricity generation will more than double in the next decade, driven by the electrification of transport, AI data centers, and increasing demand for air conditioning amid climate change.
During discussions among representatives from 185 countries, a resolution to derive 35% of global energy from electricity by 2035 is being considered. Birol emphasized that this shift could significantly aid in decarbonizing economies and enhancing energy security, although some nations may oppose the resolution due to the need for consensus.
Watch for the outcome of the resolution on deriving 35% of global energy from electricity by 2035. Its success could signal a major shift in investment strategies and energy policies worldwide, particularly in nations currently reliant on fossil fuels.