Sustainable recovery : world energy outlook special report

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      <subfield code="a">Sustainable recovery</subfield>
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      <subfield code="a">Paris</subfield>
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      <subfield code="a">The biggest global economic shock in peacetime since the 1930s is having a severe impact on employment and investment across all sectors, including energy. With the global economy set to shrink by 6% in 2020, some 300 million jobs may have been lost during the second quarter of the year. This disruption has sent shock waves through energy markets, with global energy investment expected to shrink by an unparalleled 20% in 2020. The energy sector, particularly electricity, has played a critical role in the global response to the Covid-19 crisis. Uninterrupted energy supplies have enabled hospitals to provide care, food and other essentials to be delivered, and millions of people to work and study from home while maintaining social contact online. Without access to reliable and affordable electricity, the lockdowns introduced by governments to tackle the public health crisis would have resulted in far greater economic damage. Governments are responding to the economic crisis on a massive scale. So far, they have announced measures worth about USD 9 trillion, focusing primarily on emergency financial and economic relief to prevent an even deeper crisis. In response to calls from governments around the world, the IEA has produced a Sustainable Recovery Plan for actions that can be taken over the next three years. This detailed plan is focused on cost-effective measures that could be implemented during the specific timeframe of 2021 to 2023. It spans six key sectors  electricity, transport, industry, buildings, fuels and emerging low-carbon technologies. The plan takes into account national and international objectives for long-term growth, future-proofed jobs and sustainable development goals.</subfield>
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