Global demand for fossil fuels is expected to peak within seven years as electrification and Russia’s invasion of Ukraine accelerate the push towards renewables and away from gas, the world’s peak energy agency says.

The International Energy Agency’s closely watched annual report, which is regularly cited by green energy proponents and traditional producers in debates over Australia’s future energy export mix, warns that to keep global temperatures on track to avoid catastrophic climate change, fossil fuel extraction and use will need to fall nearly 30 per cent by 2030.