Canadian environmentalists are welcoming a report from the International Energy Agency that says new fossil fuel investment must end if the world is to meet its climate goals.

The report, released this morning, says there is a narrow but viable pathway to build a global energy sector with net zero greenhouse gas emissions by 2050.

The agency says investment in new fossil fuel supplies must end and there has to be a fourfold increase in the deployment of solar and wind power by 2030.

It also says the sale of new internal combustion engine passenger cars must end by 2035.

Analysts at the clean-energy think tank Pembina Institute say the agency's recommendations would improve both the environment and human health.

They say there would be plenty of job opportunities but add that Alberta has to work harder to bring down its carbon emissions.

Greenpeace energy strategist Keith Stewart says the report throws doubt on comments by Canadian oil companies and governments that production can keep expanding while still achieving net-zero carbon. 

This report by The Canadian Press was first published May 18, 2021. 

The Canadian Press