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IEA warns of looming energy investment shortfall

A looming energy investment shortfall risks derailing carbon-reduction targets the International Energy Agency (IEA) has warned

In a new report, World Energy Investment Outlook, the IEA said that to meet global energy demand, around $40 trillion will need to be invested by 2035, while a further $8 trillion will need to be spent on energy efficiency. "The reliability and sustainability of our future energy system depends on investment," IEA executive director Maria van der Hoeven said. "There is a real risk of shortfalls, with knock-on effects on regional or global energy security, as well as the risk that investments are misdirected because environmental impacts are not properly reflected in prices." More than half of the $40 trillion needed to meet global energy demand by 2035 would have to be spent on maintaining

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