Reuters reports that the International Energy Agency said in a report that the global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs.

"We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels in 2023, continuing to rise thereafter," it said.

Spending plans for clean energy allocated by governments around the world in the second quarter of this year add up to $380 billion, making up just 2% of their total stimulus funds in response to the pandemic, the IEA said.

The energy watchdog said the figure represented around a third of what it envisioned was needed in order to put the world on course to reach net zero emissions by mid-century.