The world must double spending on renewable power and slash investment in oil and coal by 2030 to keep the Paris climate treaty temperature targets in play, the International Energy Agency (IEA) said.

However, trend lines on both fronts moved in the wrong direction last year, the agency reported in its 4th annual World Energy Investment overview, according to AFP and France24.

Money going into new upstream oil and gas projects — exploration, drilling and infrastructure — rose four percent in 2018, while investment in new coal sources went up by two percent, the first increase in that sector since 2012. At the same time, investment in new renewable power of all kinds dipped by about two percent.

In total, global energy investment in 2018 — split across the fuel supply and electric power sectors — totalled $1.85 trillion, about the same as in 2017, the IEA reported. The 2015 treaty enjoins nations to cap global warming at „well below” two degrees Celsius (3.6 Fahrenheit).

A landmark UN report in October concluded that CO2 emissions must drop 45 percent by 2030 — and reach „net zero” by 2050 — if the rise in Earth’s temperature is to be checked at the safer limit of 1.5˚C.