Narrator:

but they didn’t invest in green energy, because their existing investment strategies were far, far too profitable.

This is the best summary I could come up with:

For our first episode of The Big Question, a brand new series from Euronews Business where we discuss some of the most important topics on today’s agenda with leaders and industry experts, Angela Barnes met with Dr Fatih Birol, the executive director of the International Energy Agency (IEA), to discuss, among other things, whether climate goals are still on track.

“Our energy world in 2030, only seven years from now, will be very different compared to what we have today,” Dr Birol highlighted from his office in Paris with the Eiffel Tower as the backdrop for the interview.

In the past, the IEA was criticised for not taking a stronger stance on climate change.However, in 2021 they published a ‘seminal work of the energy industry’ in which Dr Birol and his team of 400 experts laid out a detailed plan to get to net-zero by 2050.

Unfortunately, most of this investment is mainly happening in advanced economics, and also in China, which is classed by the International Monetary Fund (IMF) as an emerging economy.

“How are we going to support those countries in order to make the necessary investment for clean energy, for solar, for wind, for efficiency, for electric cars and others?,” he also noted.

“I am afraid the prices may go up again and could be a major problem for the global economy, especially for the developing countries that import a lot of oil and gas.

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there’s a lot of investment in low-emissions energy production platforms already. the R&D takes time, much as in any field.