IEA says it will cost $44 trillion to switch clean energy by 2050
A study by the International Energy Agency said it would cost trillions of dollars to be weaned off fossil fuels in the next 36 years
The latest report from the International Energy Agency (IEA) considers the costs of remaining reliant on fossil fuels in the face of accelerated global warming. According to the study, it would cost the world $44 trillion to wean itself off fossil fuels by 2050 and switch to cleaner energy sources. This is $8 trillion higher than the Paris-based agency’s previous estimate, published two years ago. But as the IEA has continually stressed “the longer we wait, the more expensive it becomes to transform our energy system”. The good news is the world can save $115 trillion in fuel costs by 2040 if it shifts away from dirtier energy sources, resulting in a net saving of $71 trillion. Energy Techn
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
