"Record High Global EV Sales in 2023 Curb Oil Demand, IEA Reports"

The International Energy Agency's analysis shows that the deployment of clean energy technologies, including electric vehicles, solar, wind, and nuclear power, has significantly curbed the rise in global emissions over the last five years. In 2023, 1 in 5 new car sales globally were electric vehicles, contributing to a decrease in oil demand. Despite a rise in energy-related emissions, the expansion of clean energy technologies has helped limit the increase, with renewables playing a crucial role in reducing emissions. Advanced economies saw a record decline in emissions in 2023, driven by strong renewables deployment, coal-to-gas switching, and energy efficiency improvements. The IEA's executive director emphasized the resilience of the clean energy transition in the face of challenges such as the pandemic, energy crisis, and geopolitical instability.