Commodities February 19, 2026

U.S. Energy Chief Gives IEA One-Year Ultimatum to Drop Net Zero Agenda

Secretary warns Washington may withdraw membership unless the agency shifts away from net zero focus; tensions highlight geopolitical stakes for energy policy

By Caleb Monroe
U.S. Energy Chief Gives IEA One-Year Ultimatum to Drop Net Zero Agenda

U.S. Energy Secretary Chris Wright told the International Energy Agency it has about a year to abandon its net zero-by-2050 agenda or face the prospect of the United States leaving the organisation. Wright framed the move as pressure to change the agency's climate-oriented direction while avoiding a U.S. exit that could increase Chinese influence. His remarks come amid private diplomatic alignment from some countries in favor of continued fossil fuel production and public warnings from EU advisers and the U.N. about insufficient global climate commitments.

Key Points

  • U.S. Energy Secretary Chris Wright has given the IEA roughly one year to move away from its net zero-by-2050 agenda or face the possibility of U.S. withdrawal; this directly affects international energy governance and policy direction.
  • Wright warned that a U.S. exit could increase Chinese influence in the IEA, a development he wants to avoid, and said many countries privately support moving away from net zero targets and toward higher fossil fuel production and consumption - impacting oil and gas sectors.
  • Independent EU advisers warned the European Union is unprepared for worsening climate impacts and urged increased investment in protection; the U.N. estimates current national pledges would still yield 2.3 to 2.5 degrees Celsius warming this century, a projection relevant to infrastructure and insurance sectors.

PARIS, Feb 19 - U.S. Energy Secretary Chris Wright on Thursday delivered a warning to the International Energy Agency (IEA): the United States will press the agency to move away from its net zero-by-2050 climate agenda within about a year, and could withdraw membership if it does not change course.

Wright said the IEA has for a decade operated with a "group mentality" around the goal of achieving net zero greenhouse gas emissions by 2050. He described that commitment as a "destructive illusion" and said the U.S. will apply all available pressure to push the agency to abandon that policy direction within the next year or so.

"There has been such a group mentality, 10 years invested in a destructive illusion of net zero by 2050, that the US will use all the pressure we have to get the IEA to eventually, in the next year or so, move away from this agenda," Wright said.

Wright stressed that the United States does not want to trigger an outcome in which China gains greater influence over the IEA as a result of a U.S. withdrawal. "There’s always a risk (that China will gain dominance in the IEA), which is why our goal is not to withdraw," he said.

According to Wright, a number of countries privately share the U.S. view that net zero targets should be abandoned in favor of policies that allow for increased production and consumption of fossil fuels, including oil and gas. He said diplomats and officials from several nations are, at least behind closed doors, expressing a desire to bolster industrial competitiveness and military strength through expanded energy production.

"We are certainly seeing a lot of nations, at least privately, talking about wanting to become competitive again, wanting to re-industrialize their countries, wanting to have strong militaries," Wright said.

At the same time, Wright acknowledged political constraints in some parts of the world. He suggested that many European politicians have publicly tied their political platforms and international relevance to pursuing net zero policies, making public reversals unlikely absent significant electoral shifts.

"A number of the European nations have staked their political platforms and frankly, their desire to be relevant in some area in the world on a net zero agenda. Only the cold, hard reality, the uprising of people and voting out political parties can change things," Wright said.

Separately, independent advisers to the European Union said on Tuesday that the bloc is not adequately prepared for worsening climate impacts and urged a rapid increase in investments to protect people and infrastructure. The United Nations has estimated that countries' current national climate pledges, even if fully implemented, would still result in 2.3 to 2.5 degrees Celsius of global warming this century.


This standoff highlights a clash between the U.S. administration's push to recalibrate international energy policy and the established climate-oriented positions within parts of the IEA and several European governments. Wright's one-year timeline places pressure on the agency to alter its analytic and policy framing or risk a realignment of membership and influence at a geopolitically sensitive moment for global energy markets.

Risks

  • Geopolitical shift in influence over the IEA if the United States withdraws could alter international energy policy coordination - impacting energy markets and multinational policy alignment.
  • A move away from net zero agendas and increased fossil fuel production could raise transition risk for renewable energy and clean-technology sectors while affecting long-term climate-related exposures for infrastructure and finance industries.
  • Political resistance in Europe to publicly abandon net zero commitments creates uncertainty about the pace and coherence of global policy changes, posing policy and regulatory risk for firms operating across multiple jurisdictions.

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